IOCL signs MoU with Gujarat govt to set up 6 petrochemical projects
Indian Oil Corporation Limited has signed a Memorandum of Understanding with the Gujarat government to set up six petrochemical projects. These projects will be set up around Vadodara with the investment of Rs. 24,000 crore.
The MoU was signed today at Gandhinagar in the presence of Gujarat Chief Minister Vijay Rupani and Union Petroleum Minister Dharmendra Pradhan.
According to official release, the projects will include LuPech project for petrochemicals, Acrylics-Oxo Alcohol project at Dumad near Vadodara, infrastructure for KAhSPL at JR & Dumad, shifting of LAB TTL facility in Dumad and New Flare at JR and hydrogen dispensing facility.
The projects will create employment opportunities for 25,000 people. Gujarat Chief Minister Vijay Rupani welcomed the investments by IOC and termed it as a big boost for the State’s petrochemicals sector. The MoU was signed by IOC Chairman S.M. Vaidya and Additional Chief Secretary – Industries, Government of Gujarat M.K.Das.