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Taiwan’s CPC Corporation delegation proposes for Rs 43,000 cr investment in Odisha

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KalingaTV News Network  

Bhubaneswar: Taiwanese petrochemical giant CPC Corporation on Thursday proposed to invest Rs 43,000 crore in Jagatsinghpur’s Paradip.

A delegation of Taiwan’s CPC Corporation, under the leadership of CPC Corporation President Shun-Chin Lee, met Odisha Chief Minister Naveen Patnaik at state Secretariat and held a discussion with him over their proposal.

“The delegation of CPC Corporation, a prominent petroleum and petro-chemical company of Taiwan like our Indian Oil Corporation (IOCL), has come to India for inspecting various sites for establishing their naphtha cracker. In this context, they have also visited Odisha. Yesterday they had been to Paradip,” said Odisha Chief Secretary Aditya Prasad Padhi after the meeting.

“They had a discussion with me today before meeting the Chief Minister. State government has assured them to provide required infrastructure like land, water, electricity and incentives and etc will be provided” he added.

Padhi also informed, “They had a separate meeting with the IOCL as they are dependent on it for the raw materials.”

Speaking about their meeting, Chin said, “We have given a proposal to invest here. The project is estimated at 6.6 billion US dollar which is equivalent to Rs 43,000 crore. We are hopeful that the government here will support us.”

During the meeting the CM said that a task force will be formed to provide necessary assistance for the proposed project. The Chief Secretary will head the taskforce.

The Taiwanese investors had also a meeting with Union Petroleum & Natural Gas Minister Dharmendra Pradhan and IOC Chairman Sanjiv Singh on Tuesday in New Delhi.

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