Taiwan-based CPC Corporation in a recent move is contemplating to invest $6.6-billion in a green field cracker and downstream project in Odisha. In this connection, Taiwanese delegation spearheaded by Shun-Chin Lee, President of CPC Corporation, met petroleum minister Dharmendra Pradhan to prepare a blueprint for the proposed investment. Indian Oil Corporation's 15-million-tonne per annum Paradip Refinery emerged as a suitable location for the investment of $6.6 billion, said official sources, adding that the proposed cracker, based on different streams of feedstock, will have several downstream units for production of a diverse spectrum of petrochemical intermediates and end-products. The members of the delegation also visited Paradip Refinery and Paradip Port for discussions with Indian Oil and also officials of the State government.
