(BS)
The Odisha government has voiced its displeasure with the Indian Oil Corporation Ltd (IOCL) for delaying the commissioning of different projects proposed for the petrochemical complex at Paradip. The delay in commissioning of the planned units of the petrochemical complex by IOCL could have a bearing on the PCPIR (Petroleum, Chemicals & Petrochemicals Investment Region) hub in Odisha.
The PCPIR is proposed over an area of 284 sq km straddling the coastal districts of Jagatsinghpur and Kendrapara. IOCL is the anchor tenant of the PCPIR hub and the commissioning of the petrochemical units holds the key to attracting investors. With a processing area of 123 sq km, the PCPIR is projected to draw investments worth Rs 2.74 lakh crore.
“The latest revisions proposed by IOCL for completing different units of the petrochemical complex could put at stake investments for the PCPIR hub. We have asked Idco (Odisha Industrial Infrastructure Development Corporation) to renegotiate the timelines with the oil company and ensure that work is expedited”, said a state government official.
