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Indian Oil Corp, IDCO sign MoU for Paradip Plastic Park in Odisha


The state-run Odisha
Industrial Infrastructure Development Corporation (IDCO) and Indian Oil Corpration Limited (IOCL) on Tuesday signed a Memorandum of Understanding (MoU) to develop a plastic park in Paradip, officials said.
As per the MoU, Indian Oil announced a special strategic incentive scheme to attract investments in downstream polymer industries at Paradip Plastic Park.
An incentive of Rs 2000 for each metric tonne of polypropylene granules from Paradip Refinery shall be offered to the manufacturing units located in the Paradip Plastic Park till March 31, 2030.
Around 26 units are expected to come up at the plastic park with an estimated investment of Rs 500 crore and it is likely to generate 6,000 direct and indirect employment. ....

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Petrochemicals segment to significantly grow in post-covid consumption push: Mukesh Surana


January 27, 2021
Mukesh Kumar Surana, CMD, HPCL×
PCPIR in Rajasthan eyes ₹15,000 crore investment and 1.5 lakh jobs by 2030
Post-Covid consumption spike is set to drive the growth for the petrochemicals segment and fuel the growth opportunity for the downstream players, informed Mukesh Kumar Surana, Chairman and Managing Director (CMD), Hindustan Petroleum Corporation Limited (HPCL) on Wednesday.
Surana also stated that overall consumption of petrochemicals will go up substantially and grow at the 1.5-times the GDP growth of the country.
“Due to pandemic, there is a general uptrend in the consumption of petrochemicals and derivatives of petrochemicals such as plastics. Driven by higher disposable income, rapid urbanisation, brand consciousness accompanied by targeted increase in consumption in automobile and housing sector will drive growth in petrochemical segment,” Surana said during a global virtual meeting between Rajasthan Government and top global ....

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