government and the IOCL in January during the 'Utkarsh Odisha - Make in Odisha 2025' summit, it said.
The foundation stone of the IOC's upcoming ₹4,352 crore yarn project at Bhadrak will also be laid at that time, it added.
The decisions were taken at a meeting between Chief Minister Mohan Charan Majhi and IOCL Chairman AS Sahney in Bhubaneswar.
"The Naphtha Project in Paradeep has received in principle approval and IOCL will invest over ₹61,000 crore for the project. It is likely to be one of the largest projects in the sector in the country. The State Government is an equity holder of this project, and will earn dividends in addition to taxes," said
Both the projects will create huge employment opportunities for the youth (sic)," it added.
Meanwhile, the ongoing Px-PTA (Para-xylene Purified Terephthalic Acid) project will be commissioned by June, it was informed in the meeting.
The CM also discussed with the IOCL's top brass the proposed floating solar project and ethanol project in the state.
COLLABORATIVE PHILANTHROPY is not a new idea. History has many examples of communities coming together for the common good. The Bhoodan Movement of the 1950s is a great example. People donated millions of acres of land to benefit the landless. Growing up in India, many of us witnessed how village communities would unite to plant trees, add classrooms to the local school, or establish a community library.
This deeply ingrained tradition of collective action for social benefit holds valuable lessons for modern philanthropy.
Individual philanthropy in India has gained significant visibility in recent years. The growth of family businesses into professional organisations has led to the creation of large foundations and extensive corporate social responsibility initiatives.
Esta historia es de la edición December 25, 2024 de Financial Express Pune.
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Esta historia es de la edición December 25, 2024 de Financial Express Pune.
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Uniting for greater good
COLLABORATIVE PHILANTHROPY is not a new idea. History has many examples of communities coming together for the common good.
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