IOC to conduct study for chemical hub at Nayachar
Indian Oil Corporation says it would conduct a study for setting up a refinery at Nayachar as the new site was identified for setting up a chemical hub in place of Nandigram.
By PTI |
KOLKATA: With the West Bengal government identifying Nayachar as the new site for setting up a chemical hub in place of Nandigram, the Indian Oil Corporation on Saturday said it would conduct a study for setting up a refinery there.
The study would be made once the West Bengal government formally informs the company of its decision.
IOC Chairman Sarthak Behuria during a meeting with Chief Minister Buddhadeb Bhattacharjee here said he would send a team to Nayachar for a study after the state government informs it of its decision to set up a Petroleum, Chemical and Petrochemical investment region (PCPIR), Industry Secretary Sabyasachi Sen told reporters here.
The refinery would be the mother unit for the PCPIR, commonly known as a chemical hub, he said.
The chief minister, he said, told the chairman of IOC, which would be the anchor investor, that the company could conduct a study at Nayachar as Salim group of Indonesia, the anchor developer, was also doing it.
Sen, who was also present at the meeting, said IOC had got land from the Haldia Fertiliser and was now negotiating with Port Trust for the lease of some more required for expansion of the refinery from six million tonne to 7.5 million tonne at a cost of around Rs 5,000 crore.
IOC would also invest around Rs 10,000 crore for the expansion of its Haldia refinery and for putting up a paraxylene plant there.
The setting up of the paraxylene plant involved Rs 5,000 crore, but without the land it could not take up the expansion work, he said.
The study would be made once the West Bengal government formally informs the company of its decision.
IOC Chairman Sarthak Behuria during a meeting with Chief Minister Buddhadeb Bhattacharjee here said he would send a team to Nayachar for a study after the state government informs it of its decision to set up a Petroleum, Chemical and Petrochemical investment region (PCPIR), Industry Secretary Sabyasachi Sen told reporters here.
The refinery would be the mother unit for the PCPIR, commonly known as a chemical hub, he said.
The chief minister, he said, told the chairman of IOC, which would be the anchor investor, that the company could conduct a study at Nayachar as Salim group of Indonesia, the anchor developer, was also doing it.
Sen, who was also present at the meeting, said IOC had got land from the Haldia Fertiliser and was now negotiating with Port Trust for the lease of some more required for expansion of the refinery from six million tonne to 7.5 million tonne at a cost of around Rs 5,000 crore.
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IOC would also invest around Rs 10,000 crore for the expansion of its Haldia refinery and for putting up a paraxylene plant there.
The setting up of the paraxylene plant involved Rs 5,000 crore, but without the land it could not take up the expansion work, he said.
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