July 27, 2026: More than a year after Indian Oil Corporation Ltd (IOC) signed a deal with the Odisha government for its biggest-ever single-location investment, the ₹610.77 billion Paradip Petrochemical Complex saw the commencement of land acquisition for the mega project.
 
The state government has started the mandatory Social Impact Assessment (SIA) for acquiring private land for the integrated petrochemical complex. This project is expected to transform Paradip into one of India's largest petrochemical manufacturing hubs.
 
The mega petrochemical complex will be anchored by a world-scale 1.5 million tonnes per annum (MTPA) dual-feed naphtha cracker and a host of downstream petrochemical units, besides the proposed Paradip plastic park.
 
The project is expected to catalyse investments in downstream plastics, chemicals and manufacturing industries while creating thousands of direct and indirect jobs.
 
The revenue and disaster management department has issued a notification for the acquisition of 219.617 acres of private land at Badakantakandha village under Erasama tehsil of Jagatsinghpur district of Odisha. 
 
The private land parcel is part of around 2,200 acres required for the project and is located adjacent to IOC's existing Paradip refinery.
 
The land acquisition will be carried out through the Odisha Industrial Infrastructure Development Corporation (Idco). “The SIA process is expected to be completed within four months. The project work will commence soon once the land acquisition is over. The petrochemical complex is expected to become the cornerstone of Odisha's ambition to emerge as a major petrochemicals manufacturing hub,” a senior official told Business Standard.
 
In April last year, a memorandum of understanding (MoU) was signed for the project in the presence of Hardeep Singh Puri, Union minister of petroleum and natural gas, and Mohan Charan Majhi, Odisha chief minister, and other senior dignitaries in New Delhi.

(Source: Business Standard)