IOC & WBIDC to set-up chemical hub in Haldia
IOC will play the role of anchor investor for the hub, which will include a greenfield 15 million tonne refinery at an investment of around Rs 15,000 crore.
KOLKATA: Indian Oil Corporation, (IOC) has entered into a memorandum of agreement with the West Bengal Industrial Development Corporation (WBIDC) for setting up a chemicals hub in Haldia. IOC will play the role of anchor investor for the hub, which will include a greenfield 15 million tonne refinery at an investment of around Rs 15,000 crore.
“IOC has signed an agreement with WBIDC for setting up a chemicals hub. The company will play the role of anchor investor in this project. We have identified 10,000 acres of land for the project,” Mr Buddhadeb Bhattacharjee told newspersons at Writers’ Buildings on Wednesday. The hub will be named after Achraya Prafulla Chandra Ray, the father of chemicals industry in Bengal and founder of Bengal Chemicals.
The chemicals hub will come up in petroleum and petrochemicals investment region (PCPIR) and is part of the special economic zone (SEZ) being set up by a consortium led by Indonesia-based Salim group, Unitech and Universal Success.
IOC chairman Sarthak Behuria said: “The chemicals hub will have world class infrastructure that would rival the best in the world. Since it will come up in PCPIR with SEZ benefits it would be a boon for the entire eastern region.”
“We will scout for a global partner to invest in the refinery, in addition to attracting investment in downstream units,” Mr Behuria said. IOC’s plans for a similar size 15 mt refinery in Paradip is also taking shape and will not be affected by its plans for a refinery in Haldia.
As part of the agreement IOC will study all aspects of the chemical hub, the proposed refinery, upstream and downstream units and finalise a detailed road map. A joint working group is being formed to study various aspects of the project. IOC has nominated Mr K Govindarajan, its executive director (petrochemicals) to the group.
“With the signing of MoA , West Bengal has moved ahead of other states in the SEZ race. It has already selected an anchor developer and an anchor investor for the SEZ. We will now approach the union government for other necessary approvals and infrastructure facilities for the PCPIR,” the state’s minister for commerce & industries, Nirupam Sen said.
“The chief minister had a meeting with the PM a few days back in which the proposal for a deep sea port near Haldia was discussed. A consultant will be appointed to study the proposal, he added. IOC is also keen on a deep sea port since it will facilitate movement of large vessels for transportation of crude oil. Moreover, part from domestic market, a substantial portion of the refinery output could be targeted for exports to south east Asia.
“IOC has signed an agreement with WBIDC for setting up a chemicals hub. The company will play the role of anchor investor in this project. We have identified 10,000 acres of land for the project,” Mr Buddhadeb Bhattacharjee told newspersons at Writers’ Buildings on Wednesday. The hub will be named after Achraya Prafulla Chandra Ray, the father of chemicals industry in Bengal and founder of Bengal Chemicals.
The chemicals hub will come up in petroleum and petrochemicals investment region (PCPIR) and is part of the special economic zone (SEZ) being set up by a consortium led by Indonesia-based Salim group, Unitech and Universal Success.
IOC chairman Sarthak Behuria said: “The chemicals hub will have world class infrastructure that would rival the best in the world. Since it will come up in PCPIR with SEZ benefits it would be a boon for the entire eastern region.”
“We will scout for a global partner to invest in the refinery, in addition to attracting investment in downstream units,” Mr Behuria said. IOC’s plans for a similar size 15 mt refinery in Paradip is also taking shape and will not be affected by its plans for a refinery in Haldia.
As part of the agreement IOC will study all aspects of the chemical hub, the proposed refinery, upstream and downstream units and finalise a detailed road map. A joint working group is being formed to study various aspects of the project. IOC has nominated Mr K Govindarajan, its executive director (petrochemicals) to the group.
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“With the signing of MoA , West Bengal has moved ahead of other states in the SEZ race. It has already selected an anchor developer and an anchor investor for the SEZ. We will now approach the union government for other necessary approvals and infrastructure facilities for the PCPIR,” the state’s minister for commerce & industries, Nirupam Sen said.
“The chief minister had a meeting with the PM a few days back in which the proposal for a deep sea port near Haldia was discussed. A consultant will be appointed to study the proposal, he added. IOC is also keen on a deep sea port since it will facilitate movement of large vessels for transportation of crude oil. Moreover, part from domestic market, a substantial portion of the refinery output could be targeted for exports to south east Asia.
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