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Dharmendra Pradhan inaugurates Petrochemical Investors’ Conclave

Dharmendra Pradhan inaugurates Petrochemical Investors’ Conclave

Bhubaneswar, 16/11/2017 ( Odisha Samachar / Abhisek Mohanty )- : Union Petroleum and Natural Gas Minister Dharmendra Pradhan inaugurated the Petrochemical Investors’ Conclave-2017 at Mayfair Convention here on Thursday.

“The conclave aims to bring investors, academia, governments (both state and centre) at a common platform to facilitate investments in petrochemical sector in high-potential eastern India, including Odisha”, the minister said.

The minister also inaugurated an exhibition showcasing petrochemical products and technologies on the sidelines of the conclave. He also interacted with the some petrochemical experts.Petro Chemical 1

On the occasion, a Memorandum of Understanding (MoU) was inked between Indian Oil Corporation Limited (IOCL) and MCPI Private Limited for setting up a textile park in Odisha. Another MoU was also signed between IOCL and Indian Institute of Chemical Technology (ICT) to set up an ICT campus in Bhubaneswar. The joint venture between IOCL and ICT will act as a catalyst for exponential growth of this petrochemical ecosystem which will result in attracting investments and entrepreneurs to eastern region and also support in creating employment opportunities for the local population by focusing on skill
development and thus accomplish the goal of development of eastern region.

The conclave also witnessed signing of a MoU between IOCL and IDCO for the development of plastic and textile industries in eastern India, including Odisha.

Addressing the gathering, state finance minister Sashi Bhusan Behera requested the Centre to sanction financial assistance of Rs 3, 000 crore towards infrastructural development in Paradip.

MSME minister Prafulla Samal was also present at the conclave, which was attended by more than 450 investors.

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