Bhubaneswar: Day 2 of Make in Odisha Conclave 2022, the flagship investor summit by the Governemnt of Odisha along with investor promotion advisor PWC and industry partner FICCI, witnessed a thematic session on the investment opportunities in the Chemicals, Petrochemical & Plastic sector of Odisha.
Kalyan Mohanty, Executive Director, Industrial Promotion and Investment Coproration of Odisha Limited (IPICOL), welcomed over 220 dignitaries and shared the state’s vision and focus to becoming the manufacturing hub for Chemical and petrochemical in India.
A S Sahney, Executive Director Petrochemicals, Indian Oil Corporation Ltd, an anchor tenant in the Petroleum Chemicals and Petrochemicals Region (PCPIR) hub, said during his sectoral speech on Day 2 of MIO Conclave 2022, ‘Petrochemicals demand is expected to rise exponentially and triple by 2040. By 2025, Indian Oil is planning to commission a textile park in Bhadrak and is committed towards industrial growth and overall economic development in the State of Odisha.’
Shri Hiranand Savlani, CFO, Astral Pipes along with Shri. Pratap Keshari Deb, Hon’ble Minister, Industries, MSME & Energy, Govt. of Odisha virtually inaugurated the manufacturing facility of Astral Pipes Ltd in Ramdspur Cuttack Odisha. Set up at an investment of INR 109.81 crores, this plastic manufacturing production unit has a production capacity of 35,000 mega tonnes, which will generate employment for 250 people.
Also present at the sectoral session Shri Narayanan Suresh Krishnan, MD & CEO of Paradeep Phosphates Ltd said, ‘India is the largest consumer of fertilizers in the world. It is important to locate a manufacturing facility with large scale infrastructure and Paradip has become a crucial, global location for fertilizer production today.’
KJ Patel, Senior Executive Director, IFFCO, added, ‘Paradip is currently producing nearly 15% of India’s fertilizer. Availability of raw materials & skilled manpower is the key to our success story. We will introduce Nano fertilizer for the 1st time in Odisha and it’s going to be a game changer in the sector.’
Sisir Jalan, President, India Plastic Federation further added, ‘I believe that a plastic park in Balasore will facilitate players as well as states located near West Bengal and the East region. Plastic production and recycling can be a part of the circular economy of Odisha.’
Mayur D Shah, President, AIPMA also addressed the delegates and said, ‘Industrial turnover of the plastics sector is now INR 3.5 lakh crores. By 2027, it is expected to reach INR 10 lakh crores. To attract investment in this segment in Odisha, we require newer technologies, innovation & infrastructure support.’
Among the other speakers, SK Nayak, Vice Chancellor, Ravneshaw University threw light on why the plastics, chemicals & petrochemicals sector needs innovative green polymers, smart textiles, replacement of metal/steel pipes by composite pipes etc. According to him it’s time to adopt, restructure, evaluate & absorb to become an upskilled state.
The sectoral session concluded with Pratap Keshari Deb, Hon’ble Minister, Industries, MSME & Energy, Govt. of Odisha, saying, ‘We are making sincere efforts in a bid to establish Odisha as the manufacturing hub for petroleum and chemicals sector. We will stick to our commitment to providing all necessary benefits under our industrial policy for this sector.’
Manoj Mehta, Director & Head – Chemicals, Petrochemicals, FICCI gave the vote of thanks to all the delegates and guests present at the session. He highlighted that the objective of this session was to attract investment opportunities and highlight the unique competitive advantage offered by the state for manufacturing chemicals, petrochemical and plastics sector.
The session was concluded by Shri Hemant Sharma, IAS, Principal Secretary, IPICOL on the chemical ecosystem in Odisha. He mentioned that Odisha has immense scope for development of plastics, chemicals and petrochemical downstream. ‘Odisha having the 2nd largest coal deposits in the country had ample scope for coal gasification units. Taking advantage of the presence of 3 major ports in Dhamra, Paradip and Gopalpur, Odisha is fast developing its port-based investment regions.’
‘Paradip is home to one of the 4 Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) in India. The other port-based investment region is Tata Gopalpur Industrial Park with 1135 acres of SEZ and 1735 acres of DTA. Dhamra Investment Region with deep draft port access and dedicated freight rail corridors is another focus area of development.’ He further added, ‘MSMEs can make a great turnover in the coming 5 years if they invest small amounts in the chemicals & petrochemical industry in Odisha. The opportunities provided by the Government should be availed by all industries operating in this sector. This industry qualifies for best incentives. Anyone investing in this sector would be given 20% capital investment subsidy which no other state can offer at this moment. He also announced a lucrative offering for the industrialists saying that anyone who puts up a plant in any areas of western Odisha can get 100% reimbursement in SGST till such time when they are able to clear it. Initially the claim period was within 5 to 7 years but now the period is extended till 10 years to 15 years.”
- Odisha to be the manufacturing hub for the Chemicals & Petrochemical sector
- Astral Pipes set up Rs 109.81 crores manufacturing unit in Cuttack Odisha
- Paradip is the New Global hub for fertilizer production in India
- Government of Odisha to offer unique investment incentives for companies planning to set up a plant in the Western part of Odisha
Make in Odisha Conclave 2022: The inaugural edition of the Make in Odisha Conclave was organized in 2016 to showcase the manufacturing prowess of the State and the investment potential in diverse sectors. It was an overwhelming success, with the announcement of investment intent to the tune of INR 2.03 lakh crore. This year the Conclave will be a celebration of 5 days, presenting Odisha, its potential and achievements, to the world with Japan, Germany and Norway as partner countries. It will also be a platform to exchange ideas and share knowledge. The Conclave will have sector specific seminars across food processing, agro-business and agro-marketing, chemicals petrochemicals and plastics, metal downstream and ancillaries, IT/ITeS, textiles and apparels, renewable energy and equipment, real estate & social infrastructure, healthcare and pharma, film and entertainment, tourism, biotechnology, logistics and warehousing, aerospace & defence apart from other engaging events.
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