Odisha, proposed to be the gateway for energy in eastern India, would be one of the few states to have gas from three sources - improted LNG, domestic natural gas and Coal Bed Methane (CBM), said Pradhan, who discussed about the planned projects with Chief Minister Naveen Patnaik.
"About Rs 1 lakh crore worth of investment will be made in Odisha during coming five years in petrochemicals, oil and gas, pipelines, LNG, LPG terminals and strategic oil reserve," Pradhan told reporters here.
Describing the refinery as the largest of its kind in the country, the Minister said it would refine all kinds of crude and produce petrol, diesel, LPG, propylene and ATF.
In order to maintain adequate stock of oil for emergency situations, Chandikhole area in the state has been identified for establishment of a strategic petroleum reserve, Pradhan said an amount of Rs 3,800 crore would be spent for the facility with 3.7 million metric tonne capacity, he said.
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On the petrochemical complex and Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) proposed at Paradip, he said it would take off very soon and stimulate a host of ancillary and downstream activities in the area.
IOCL would invest about Rs 3,150 crore for setting up a polypropylene unit in the region work for which is likely to start soon and completed in 2017. The feedstock would be used in a number of activities including furniture, packaging materials, container and medical disposables, he said.
Similarly, Paradip area would also have a LPG terminal at a cost of Rs 2,500 crore, he said adding LPG connections in the state which stood at 28 per cent now would be raised up to the national average of 60 per cent soon.
A number of pipelines would also be laid through the state which include Paradip-Ranchi, Paradip-Haldia-Durgapur and Paradip-Visakhapatnam-Hyderabad.