December 27, 2024 [Reuters]- Indian Oil Corporation will invest 610 billion rupees ($7 billion) to establish a naphtha cracker project in Paradip in the eastern state of Odisha, the state government said on Tuesday.

India’s top refiner is expected to sign an initial agreement with the state government in January, the Odisha chief minister’s office said in a statement.

IOC operates a refinery in Paradip with a capacity of 300,000 barrels per day.

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data