Uniplas build petrochemical complex in Orissa, India

Uniplas to build petrochemical complex in Orissa, India

7:14 AM, 9th November 2012
Uniplas to build petrochemical complex in Orissa, India

BHUBANESWAR, INDIA: The Indian Union ministry of chemicals & fertilizers has urged the Odisha government to examine the possibility of establishment of a petrochemical complex at the state’s PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) hub by UAE-based Uniplas Petrochemicals Ltd. Uniplas is keen to set up a 150 kilo tonne per annum capacity petrochemical complex that will produce caustic soda, ethylene, chlorine, PVC (polyvinyl chloride) and PVC compounds.

The project will cost around Rs 5500 crore ($1.012 billion) and 100 per cent of the investment will be made through FDI (foreign direct investment), quoted Business Standard, an Indian newspaper. Phase-I work of the project is expected to be completed by 2015 while the entire project is scheduled for commissioning by 2030.

“In India, Uniplas is exploring the possibility of setting up grassroot complex to produce PVC for sale in the Indian as well as overseas market. While the company is at present examining the possibility of investing in the Gujarat PCPIR, the state government may also like to consider this offer in view of the fact that such an investment would provide tremendous value addition and pave the way for an integrated value chain to be developed as envisaged in the PCPIR policy,” said Geeta Menon, Director, PCPIR, in her letter to Parag Gupta, Odisha Industries Secretary, Government of India.

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