Taiwan's CPC to invest $6.6 billion in India's IOC Paradip petrochemical complex

According to market sources, Taiwan’s state-owned CPC Corporation has proposed to invest around $6.6 billion in the Paradip petrochemical complex greenfield cracked and downstream units owned by Indian Oil Corporation limited (IOC).

Based in Odisha, India, the complex comprises of a 700,000 tons/year PP plant, a 350,000 tons/year MEG plant, a 1.2 million tons/year PTA and synthetic ethanol unit. The plants are expected to be linked to the 15 million tons/year refinery at the same location while constructions are expected to begin within these few years.