Corrosion control firms keen to invest Rs 100 billion at Paradip

Paradip, a key industrial hub in eastern India with a cluster of industries in ports, crude oil refinery and product pipelines sectors, has attracted the attention of corrosion control companies.

"As many as 10 companies operating in the area of corrosion control have evinced interest to invest to the tune of Rs 100 billion in and around Paradip. These companies have expressed interest at a meeting held recently on the sidelines of 19th National Conference on Corrosion Control held in Bhubaneswar," said PC Choubey, executive director of the Indian Oil's southeastern region pipelines (SERPL).

Corrosion is turning out to be a major headache for the industries across the sector. According to estimates, India loses around 4-5 per cent of GDP annually on account of corrosion losses.

Industries at Paradip include IOCL's 15 million tonne per annum (mtpa) capacity refinery sprawling over 3,345 acres, built with an estimated cost of Rs 345.55 billion. The refinery can process 100 per cent high-sulphur and heavy crude oil to produce various petroleum products, including petrol and diesel of BS-IV quality, kerosene, aviation turbine fuel, propylene, sulphur, and petroleum coke. It is also designed to produce Euro-V premium quality motor spirit and other green auto fuel variants for export.

Similarly, SERPL of IOCL is presently operating cross-country pipeline networks of crude oil and refined product and LPG of 1570 km with 19.35  mtpa. IOCL is also having the biggest and largest crude oil handling facility at Paradip with three single point mooring system having 37 mtpa capacity installed in deep sea at a distance of 21 km from sea shore feeding its refineries at Paradip, Haldia, Barauni and Bongaigaon.

Besides, Paradip is also a hub for steel and fertilizer industries which are prone to corrosion.