Paradip News

The Coast Guard rescued six crew members of a fishing boat that had developed technical snag at sea about 80 nautical miles south of Paradip in Odisha, officials said today.

The Paradip Refinery of Indian Oil, which is set to be dedicated to the nation on February 7, will massively boost the bottomline of the largest oil marketeer to the tune of 20-30 percent, thanks to the latest technologies deployed at the facility that's coming up after a delay of 14 long years.

An exhibition on the Indian Oil's 11th refinery at Paradip opened here Sunday, displaying the execution of the Rs 35,000-crore project with 15-MMTPA capacity using world-class state-of-the-art technology.

The commissioning of the refinery comes after 14 years, owing to many flip-flops by the Naveen Patanik government on incentives, withdrawal of its foreign partner Kuwait Petroleum and stiff frequent opposition from locals, state politicians and NGOs apart from two killer cyclones.

State-owned Indian Oil Corp (IOC) Tuesday said it has started commercial production of fuel from its Rs 34,555 crore Paradip oil refinery in Odisha, sending out first consignment of diesel and LPG.

The upcoming refinery of state-run Indian Oil Corporation (IOC) at Paradip would be a major producer of feedstock for the downstream petrochemicals industry, a top official of the company said.

A deep depression over the Bay of Bengal is likely to trigger rain or thundershower coupled with gusty surface winds in some parts of Odisha.

Optimistic about the commercial commissioning of its Rs 35,000 crore refinery project at Paradip in Odisha "very very soon," the IOCL Tuesday said the entire world is looking at the project because of its volume and uniqueness.

The government Wednesday approved a Rs 1,439-crore project for mechanisation of three berths at Paradip port on public private partnership (PPP) basis.

Commissioning its Rs 34,555-crore Paradip oil refinery in Odisha, state-owned Indian Oil Corporation (IOC) Monday said it will start full-fledged production by the end of the year.

Output from the $5.2 billion Paradip refinery will compete with rising supplies of fuels from new and expanded plants in the Middle East and China, putting pressure on the profit margins of Asian refiners.

The Centre has rejected the Odisha government's request to consider its recommendation of granting prospecting license (PL) over Khandadhar iron ore reserve in favour of Posco India which proposed to set up a Rs 52,000 crore steel facility near Paradip.

With uncertainty prevailing over Posco's Rs 52,000-crore mega steel project near Paradip, Odisha government says the ball is in the Centre's court with regard to raw material linkage for the South Korean firm.

GAIL India, the nation's largest natural gas distributor, has dropped plans to set up a Rs 3,108 crore floating LNG import terminal at Paradip in Odisha.

Indian Oil Corporation (IOC), the nation's largest oil firm, Monday said it will invest Rs 5,300 crore in setting up an LPG import facility at Paradip in Odisha and laying pipelines.