CM Inaugurates Indian Oil’s Product Application & Development Centre
The Product Application & Development Centre (PADC) of the Indian Oil Corporation Limited (IOCL) was inaugurated today by Chief Minister Naveen Patnaik and Union Minister of Petroleum & Natural Gas and Steel, Dharmendra Pradhan via video conferencing. Senior officials of the Central Government and IOCL also attended the inauguration ceremony of the company’s Paradip unit.
While addressing the stakeholders present, the CM highlighted the potential role that this unit could play in developing the polymer-based Industry in Odisha. “It should emerge as one of the Centres of Excellence in the field of Polymer applications”, said Patnaik.
“This centre will not only perform a pivotal role in developing new materials and innovative applications but will also provide support to investors in setting up manufacturing units in the Plastic and Polymer Sectors”, added the CM. He also mentioned the crucial role that IOCL plays in the Plastic and Petro-Chemicals based industries in Odisha.
The newly inaugurated centre is spread across five acres of land with a capital expenditure of Rs 43 crore infused into it. It is adjacent to IOCL’s refinery and petrochemicals complex, making it the sixth centre of its kind in the country and second in eastern India. This project also qualifies under the tag of the central government’s Make In India initiative.
In addition to Paradip, IOCL has also proposed another potential project in the Bhaillak Textiles Park. If it goes through, this project could culminate in a big step towards developing an ecosystem for technical textiles in the state.