Oil minister lays stone of Rs. 3K crore unit at Paradip.

Oil minister Dharmendra Pradhan recently laid foundation stone of a polypropylene plant at Indian Oil Corporation Limited's (IOCL) under construction petrochemical complex at Paradip. The unit would be developed with an investment of Rs. 3,150 crore.

Pradhan said the plant will pave way for developing the eastern part of India into a petrochemical hub. 'Polypropylene produced by the unit will be used in ancillary industries to make packaging material, containers, medical disposables and adhesive tapes,' he said.

The unit is likely to be commissioned in the next three years. 'A number of projects in plastics processing would come up by the time it is commissioned,' he said.

There has been a steady rise in consumption of polypropylene in the last decade. The trend is likely to continue with growing demand for plastics in automotive, processing and packaging industries, official sources said.


TOI