04-12-2022 : The goal is to make Odisha a manufacturing hub for the chemical and petroleum industries. Pratap Keshari Deb, the minister of industries, MSME, and energy, spoke at the sectoral session of the Make in Odisha Conclave on Day 2 and stated, “We are making genuine efforts in a bid to develop Odisha as the manufacturing hub for the petroleum and chemicals sector. We shall uphold our promise to offer this industry the benefits required by our industrial policy.
Executive Director, Industrial Promotion and Investment Coproration of Odisha Limited (IPICOL) Kalyan Mohanty welcomed over 220 dignitaries and shared the State’s vision and focus.
Principal Secretary, IPICOL Hemant Sharma mentioned that Odisha has immense scope for development of plastics, chemicals and petrochemical downstream.
He further said MSMEs can make a great turnover in the coming five years if they invest small amounts in the chemicals and petrochemical industry in Odisha. Anyone investing in the sector would be given 20% capital investment subsidy which no other State can offer at this moment, he told. 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, he said
AS Sahney, Executive Director, Petrochemicals, Indian Oil Corporatin Ltd, an anchor tenant in the Petroleum Chemicals and Petrochemicals Region (PCPIR) hub, said by 2025, the Indian Oil is planning to commission a textile park in Bhadrak.