Chief Minister of Odisha and Union Minister for Petroleum & Natural Gas and Steel jointly inaugurate IndianOil’s Product Applications & Development Centre (PADC) at Paradip
New Delhi 25-Jun-2020
Indian Oil Corporation's (IndianOil) Product Applications & Development Centre (PADC) at its Paradip Refinery was inaugurated today by Shri Naveen Patnaik, Hon'ble Chief Minister of Odisha, and Shri Dharmendra Pradhan, Union Minister of Petroleum & Natural Gas and Steel, through a virtual platform.
IndianOil has set up the PADC with a capex of Rs. 43 crore adjacent to its Paradip Refinery & Petrochemicals Complex to facilitate the development of polymer industry in Odisha and the eastern parts of India.
Hon'ble Chief Minister of Odisha, Shri Naveen Patnaik, in his address, mentioned that IndianOil, being the anchor in the energy sector, should play a proactive role in supplying the raw materials to the local entrepreneurs involved in polymer-based industry. With the expansion of Paradip Refinery, it will work as a catalyst in ushering in a new growth saga in Eastern India, he added.
Speaking on the occasion, Shri Dharmendra Pradhan expressed his happiness that IndianOil has completed about 13 major projects in Odisha in the last five years at a total investment of over 40,000 crore. The Corporation is investing Rs. 23,503 crore more on various ongoing projects, encompassing refineries, pipelines, marketing and HR (Institute of Chemical Technology, Bhubaneswar campus) related projects.
Talking about the other initiatives being undertaken by IndianOil, Shri Pradhan said, "Paradip Plastics Park is being developed jointly by IndianOil & IDCO (Odisha Industrial Infrastructure Development Corporation) to promote cluster development of plastics industry in the State. The project has been approved by the Govt. of India under the scheme for Plastics Park and provides for 120 acres of exclusive land and a commitment of US$ 77 million for development of infrastructure. IndianOil shall provide committed feedstock for the units in the park and the cluster is expected to generate employment for about 6,000 workers (both direct and indirect)."
In line with the clarion call given by the Hon'ble Prime Minister, which focusses on a paradigm change in the development of eastern States, Shri Pradhan added that an integrated Textiles Park is also being set up in Bhadrak district of Odisha. It will attract investments from players across the value chain - spinning, weaving, knitting, processing, garments and made-ups; with special focus on polyester segment. IndianOil plans to set up a Continuous Polymerisation (CP) unit for producing polyester fibre and yarn in the textiles park. The unit will act as the anchor project and will supply raw material to the downstream textiles industry, forming the backbone of the Textiles Park. The establishment of the Textiles Park is expected to generate huge direct and indirect employment for about 20,000 people.
Wishing IndianOil a bright future, Shri Pradhan concluded by saying "With so much focus of the Central Government on the eastern region of India, I am confident that the State of Odisha would flourish in various industries in the years ahead. And the PADC at Paradip will provide a perfect platform for polymer research and growth of future enterprise in the region."
Welcoming the virtual gathering, Sh. Sanjiv Singh, Chairman, IndianOil, said that the Hon'ble Prime Minister's Purvodaya vision for the development of the eastern States is the inspiration behind the Corporation's focussed initiatives in Odisha. Expressing his confidence that Odisha will grow into an important petroleum & petrochemicals hub soon, he added that the PADC at Paradip will act as a Centre of Excellence in the field of polymer research, besides being an incubation centre for entrepreneurial development and a polymer training platform.
In line with the Atmanirbhar Bharat scheme of the Govt. of India, PADC will focus on development of innovative applications to replace finished goods imports in niche fabrics, technical textiles, etc. The Centre is equipped with the latest testing and processing equipment to cater to the needs of polymer customers and to support new investors and entrepreneurs in preparing project reports, hand-holding in setting up downstream units, and establishing markets for finished products.
The centre would also act as a technical support centre for polyester yarns and fabrics for the upcoming textiles hub in Bhadrak.
PADC would be working closely in collaboration with other reputed research institutions such as ICT-Bhubaneswar, CIPET and NCL, Pune.
The technical centre is the sixth centre of its kind in the country and the second in eastern India. It is a recognised laboratory of the Department of Scientific & Industrial Research (DSIR) under the Ministry of Science & Technology, Govt. of India.
John Prasad K.
Chief General Manager
Corporate Communications
Indian Oil Corporation Ltd.
