(BS)
After clearing high-value investment projects worth Rs 2.04 trillion, the Odisha government is likely to stumble on land acquisition hurdles especially for mega projects proposed by Indian Oil Corporation (IOC) and Haldia Petrochemicals Ltd (HPL).
Last month, the High Level Clearance Authority (HLCA), the highest body to approve investments in Odisha, inter alia gave the go-ahead to expansion projects proposed by IOC and a refinery cum petrochemicals complex by HPL. Between them, IOC and HPL have pledged investments valued at around Rs 1.8 trillion.
IOC has pledged a massive investment of Rs one trillion to ramp up capacity of its coastal crude oil refinery at Paradip from 15 million tonnes per annum (mtpa) to 25 mtpa. It also intends to put up a petrochemicals complex consisting of a dual feed cracker, naphtha cracker and petcoke gasification plant at Paradip. Besides creating employment for 12,595 people, IOC’s facilities will ensure the availability of building block feed stock to ancillary and downstream units in the chemical and petrochemicals sector.
