STATE-OWNED INDIAN Oil Corporation Ltd (IOCL) will invest ₹61,000 crore to set up a naphtha cracker project at Paradip in Odisha, a statement said on Tuesday.
A Memorandum of Understanding (MoU) for this will be signed between the Odisha 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.
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