IndianOil has made a cumulative investment of approximately ₹43,359 crore at its Paradip complex in Odisha.
It is also investing another ₹19,251 crore in new petrochemical, textile and sustainable aviation fuel (SAF) projects.
The combined investment is aimed at transforming Paradip into an integrated energy and petrochemical hub while creating long-term economic value.
Expanding petrochemical footprint
The cumulative investment includes ₹34,555 crore in refinery units, ₹3,150 crore in a polypropylene plant and ₹5,654 crore in a mono ethylene glycol (MEG) plant.
These projects are expected to sustain the livelihoods of more than 12,500 people in and around Paradip.
IndianOil is also investing ₹13,805 crore in the Paraxylene-Purified Terephthalic Acid (PX-PTA) project to strengthen its petrochemical value chain.
New growth projects
The company plans to invest around ₹4,382 crore in the Bhadrak Textile Park through a joint venture with MCPI Pvt Ltd to support Odisha’s textile sector.
Another ₹1,064 crore will be invested through joint venture M11 Energy Transition Pvt. Ltd to establish a Hydroprocessed Esters and Fatty Acids (HEFA)-based Sustainable Aviation Fuel (SAF) project.
These investments support the company’s strategy of strengthening domestic manufacturing while advancing India’s energy transition.
Operational milestones
During FY26, Paradip Refinery recorded its highest-ever crude processing of 16.35 million tonnes.
The refinery also commissioned the Standby Sulphur Recovery Unit-III and the New Hydrogen Generation Unit.
The 1.2 million tonnes per annum Purified Terephthalic Acid (PTA) unit under the PX-PTA project is nearing completion, marking another milestone in Paradip’s petrochemical expansion.
Outlook
IndianOil Executive Director & Refinery Head Kausik Basu said: “IndianOil’s continued investments at Paradip reaffirm its commitment to developing Paradip into a world-class integrated refinery and petrochemical hub that strengthens India’s energy security, accelerates sustainable development, and creates enduring value for the people of Odisha and the nation.”