IOC to take up petrochem complex work in ph-II: Behuria

Indian Oil Corporation (IOC) will take up work for its proposed petrochemical complex along with its refinery project in Paradip in the second phase of construction, IOC Chairman Sarthak Behuria said here today.

Stating that the first phase of the IOC's refinery project would be completed by March 2012, Behuria said besides the petrochemical complex, the company would also draw a pipeline between Paradip and Raipur in the second phase.

"The pipeline will pass through Ranchi," he said after meeting Chief Minister Naveen Patnaik.

The IOC had so far invested Rs 6,000 crore on its refinery project which will cost Rs 29,777 crore, he said.

He urged the state government to take steps for widening the road to Paradip for easy movement of equipment for the project.

Behuria also requested the Orissa government to expedite its lease agreement with the company which was required to make arrangements for funding of the project.

Replying to a question, the chairman said the IOC was spending Rs 2,000 crore on LPG marketing across the country.

"The IOC will have 103 more rural LPG outlets in the state," he said expressing optimism that they would become operational in the next six months.

The central public sector which signed an MoU with the state government on February 16, 2004, for setting up an oil refinery, passed through rough weather leading to no progress for a long time.