Taiwan's CPC Corp and IOC Signed MoU, USD 6.6 Billion of Investment Announced in Odisha

Indian Oil Corporation (IOC) and Taiwan's state-owned CPC Corp have signed an MOU in which the later has proposed to invest USD 6.6 billion in petrochemical projects in Paradip in Odisha using feedstock from IOC, Oil Minister Dharmendra Pradhan said. A Taiwanese delegation discussed investment in the petrochemical cracker and downstream units.

"Met with a delegation led by President of Taiwan's state-owned petrochemical company, CPC Corporation. They propose to invest $ 6.6 billion in petrochemical projects in Paradip using feedstock from IOC," Pradhan tweeted.

The delegation led by Shun-Chin Lee, President of CPC Corporation "had detailed discussions with the Minister and senior officials of the Ministry and the oil industry on the proposed investment and identified the East Coast of India, and Odisha in particular, for the location of the cracker and downstream units," and Indian Oil Corp (IOC) statement said.

Taiwan's state-owned CPC Corp has proposed to invest USD 6.6 billion in petrochemical projects in Paradip in Odisha using feedstock from IOC, Oil Minister Dharmendra Pradhan said. A Taiwanese delegation discussed investment in the petrochemical cracker and downstream units.

"Met with a delegation led by President of Taiwan's state-owned petrochemical company, CPC Corporation. They propose to invest $ 6.6 billion in petrochemical projects in Paradip using feedstock from IOC," Pradhan tweeted.

The delegation led by Shun-Chin Lee, President of CPC Corporation "had detailed discussions with the Minister and senior officials of the Ministry and the oil industry on the proposed investment and identified the East Coast of India, and Odisha in particular, for the location of the cracker and downstream units," and Indian Oil Corp (IOC) statement said.

During the discussions, IOC's 15-million tonnes per annum Paradip Refinery has emerged as a suitable location for investment in a greenfield cracker and downstream units at an estimated investment of USD 6.6 billion, it said.

The delegation will be going to Odisha for a site visit to Paradip refinery and Paradip Port and for discussions with IOC and State Government officials.

15-million tonnes per annum Paradip Refinery has emerged as a suitable location for investment in a greenfield cracker and downstream units at an estimated investment of USD 6.6 billion, it said.

The delegation will be going to Odisha for a site visit to Paradip refinery and Paradip Port and for discussions with IOC and State Government officials.