August 10, 2018 [Tank News International] - CPC Corp, a State-owned petroleum company of Taiwan, is planning to invest $6.6bn in a petrochemical project in Paradip, Odisha, India, using feedstock from the Indian Oil Corporation (IOC).
With an annual production capacity of 15 million tonnes the Paradip Refinery was selected to host the new project, which will utilise the refinery’s feedstock. It will have many downstream units for the production of a wide range of end products and petrochemical intermediates, reported The Hindu Business Line.
Last year, IOC’s chairman stated that the company plans to invest $4.67bn over the next few years to boost its petrochemical capacity.
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