Taiwan's $6.6 bn petrochem plan hits IOCL's feedstock constraints

Development puts a spanner in Odisha's efforts to draw investments in downstream space for the Petroleum, Chemicals & Petrochemicals Investment Region (PCPIR) hub around Paradip

A massive investment plan of $6.6 billion (or Rs 430 billion) by Taiwan’s state-owned petroleum & natural gas company, CPC Corporation, in the country’s eastern coast at Paradip has bumped into a hurdle at the stage of project conception.

Paradip has emerged as a suitable location for CPC Corporation’s greenfield cracker plant and downstream petrochemical units. Last week, a delegation from the Taiwan Petrochemical Alliance led by Lee Shun-Chin, president of CPC Corporation visited the site of Indian Oil Corporation Ltd’s (IOCL’s) 15 million tonne crude oil refinery at Paradip. Before the site visit, the delegation had negotiations with Dharmendra