Don’t miss the latest developments in business and finance.

IOCL Paradip refinery to get a boost under NDA rule

IOCL's Paradip refinery is in advanced stage of implementation

BS Reporter Bhubaneswar
Last Updated : May 27 2014 | 9:51 PM IST
The 15 million tonne refinery project of Indian Oil Corporation Ltd (IOCL) at Paradip is set to get a boost with Dharmendra Pradhan, a BJP leader from Odisha, taking charge as the minister of state - MoS (independent charge) for petroleum & natural gas. Pradhan is currently a Rajya Sabha member, elected from Bihar.

Listing the Paradip refinery project as a priority area, Pradhan said, "The Paradip refinery is certainly an important project for the state. It is crucial to the state's economy and also for job creation. I would like to study the status of the project in detail before committing anything. But definitely, the project along with the entire eastern regions would get more emphasis under the Narendra Modi government."

IOCL's Paradip refinery is in advanced stage of implementation. The Phailin cyclone that struck the state in October last year, had delayed the project by about three months due to shifting of workforce to safe locations. Also, due to currency fluctuations, the project cost had escalated to Rs 37,000 crore from Rs 30,000 crore estimated originally.

Also Read

The refinery project is much awaited since its commissioning holds the key to development of the PCPIR (petroleum, chemicals & petrochemicals investment region) hub planned across 284 sq km in Kendrapara and Jagatsinghpur districts.

The foundation stone for IOCL's Paradip refinery was laid by former prime minister AB Vajpayee in May, 2000. The project has been delayed, first, because of funds constraint and sluggish market and then, due to law and order issues.

Apart from Pradhan, another senior BJP leader Jual Oram also took charge of tribal affairs portfolio as a Cabinet minister.

"I express my gratitude to Narendra Modi for assigning me this responsibility. I am aware of the ministry and will examine what needs to be done," Oram.

It was Oram who was independent India's first tribal affairs minister, a ministry created under the Atal Behari Vajpayee government in October 1999. A four time Lok Sabha MP, he hails from tribal dominated Sundargarh district.

Oram is the sole winner from the BJP in Odisha in the 2014 Lok Sabha polls with the regional Biju Janata Dal (BJD) bagging 20 out of 21 seats.

Prime Minister Narendra Modi inducting two ministers from Odisha in his council is a welcome departure from Congress led alliances that had denied due weightage to the state.

Historically, Odisha has been either under-represented or disproportionately represented in Congress led governments at the Centre.

Congress strongman from Odisha Srikant Jena who held the chemicals and fertilisers portfolio, was the lone representative in the UPA II government and that too in the MoS rank. This was despite the Congress sending six Lok Sabha MPs in the 2009 polls.

More From This Section

First Published: May 27 2014 | 8:13 PM IST

Next Story