Union Petroleum Minister Dharmendra Pradhan Sunday laid the foundation stone of a polypropylene unit in the petroleum, chemicals and petrochemical investment region (PCPIR) proposed at Odisha's Paradip.
Indian Oil Corporation Ltd will invest over Rs.3,000 crore for setting up the polypropylene unit. The unit will be of 0.7 million tonnes per annum capacity, said an official.
"The polypropylene unit will come up with an investment of about Rs.3,000 crore. There are also plan for setting up another three four projects at the PCPIR in the next five years," said Pradhan.
He said it will boost the economy of the state as well as the country besides providing employment to the people of Odisha.
