Taiwan’s petrochemical giant CPC Corporation proposed to invest Rs 43,000 crore (USD 6.6 billion) in Paradip of Odisha’s Jagatsinghpur district. The Odisha government assured Taiwanese investors of its cooperation for the proposed petrochemical cracker unit project.
Odisha Chief Minister Naveen Patnaik today met Taiwan’s state-owned firm CPC Corporation delegation led by its president Shun-Chin Lee at the state secretariat in Bhubaneswar.
“The delegation of CPC Corporation, a prominent petroleum and petro-chemical company of Taiwan like our Indian Oil Corporation (IOCL), has come to India for inspecting various sites for establishing their naphtha cracker. In this context, they have also visited Odisha. Yesterday they had been to Paradip,” said Odisha Chief Secretary Aditya Prasad Padhi after the meeting.
“They had a discussion with me today before meeting the Chief Minister. State government has assured them to provide required infrastructure like land, water, electricity and incentives and etc will be provided” he added.
Padhi also informed, “They had a separate meeting with the IOCL as they are dependent on it for the raw materials.” The Taiwanese investors had a meeting with Union Petroleum & Natural Gas Minister Dharmendra Pradhan and IOC Chairman Sanjiv Singh in New Delhi.
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