New Delhi, July 28, 2026: Indian Oil Corporation Limited (IndianOil) has transformed its Paradip Refinery into one of India’s most significant energy and petrochemical hubs through a cumulative investment of more than ₹43,359 crore. The integrated complex, comprising the refinery, polypropylene plant, and mono ethylene glycol (MEG) unit, has become a key driver of industrial development, employment generation, energy security, and economic growth in Odisha.
Since its dedication to the nation in 2016, the Paradip Refinery has grown into the largest refinery on India’s eastern coast, supporting domestic fuel production while expanding India’s petrochemical manufacturing capabilities.
Massive Investment Strengthening India’s Energy Sector
IndianOil’s investment at the Paradip complex spans multiple strategic projects designed to strengthen both refining and downstream petrochemical operations.
Investment Breakdown
- Paradip Refinery: ₹34,555 crore
- Polypropylene Plant: ₹3,150 crore
- Mono Ethylene Glycol (MEG) Plant: ₹5,654 crore
Together, these investments total ₹43,359 crore, making Paradip one of IndianOil’s largest integrated energy investments.
The complex currently supports the livelihoods of more than 12,500 people, creating direct and indirect employment opportunities across the region.
Major Expansion Projects Underway
IndianOil continues to expand the Paradip complex with several high-value projects aimed at increasing petrochemical production and promoting sustainable fuels.
Key Ongoing and Planned Investments
- Paraxylene–Purified Terephthalic Acid (PX-PTA) Project: ₹13,805 crore
- Bhadrak Textile Park (Joint Venture): ₹4,382 crore
- Sustainable Aviation Fuel (SAF) Project: ₹1,064 crore
The upcoming projects are expected to strengthen Odisha’s position as an important petrochemical manufacturing destination while supporting India’s long-term energy transition objectives.
Record Operational Performance
The Paradip Refinery achieved a significant operational milestone during FY 2025–26, processing a record 16.35 million metric tonnes (MMT) of crude oil.
During the year, IndianOil also commissioned several critical facilities, including:
- Standby Sulphur Recovery Unit-III
- New Hydrogen Generation Unit
Additionally, construction of the 1.2 MMTPA Purified Terephthalic Acid (PTA) Unit under the PX-PTA Project is nearing completion, further expanding the refinery’s petrochemical portfolio.
Major Contributor to Government Revenue
Beyond its industrial significance, the Paradip Refinery continues to make a substantial contribution to public finances.
During FY 2025–26, the refinery contributed more than ₹30,392 crore to the Central and State Governments through various taxes and duties, reinforcing its importance as a strategic national asset.
Recognition for Safety and Environmental Excellence
IndianOil’s Paradip Refinery has received multiple recognitions for maintaining high standards in industrial safety and environmental management.
Among its notable achievements are:
- Kalinga Safety Excellence Award
- National Safety Council of India Safety Award
These honors reflect the refinery’s commitment to safe operations, environmental stewardship, and sustainable industrial practices.
Strong Commitment to Community Development
IndianOil has complemented its industrial investments with sustained spending on Corporate Social Responsibility (CSR) and Corporate Environmental Responsibility (CER) initiatives.
Between FY 2014–15 and FY 2025–26, the company invested ₹56.71 crore in community development projects across the Paradip region.
These initiatives cover:
- Education
- Healthcare
- Nutrition
- Skill Development
- Rural Development
- Support for Orphanages
- Assistance to Old-Age Homes
The programs are aimed at improving quality of life while promoting inclusive and sustainable development.
Leadership Perspective
Commenting on the refinery’s achievements, Mr. Kausik Basu, Executive Director & Refinery Head, described Paradip Refinery as a symbol of industrial excellence, inclusive growth, and national energy security.
He emphasized that IndianOil’s continued investments demonstrate the company’s commitment to:
- Energy Security
- Sustainable Development
- Economic Growth
- Long-term Value Creation
- Regional Prosperity
Strategic Importance for India
As India’s largest refinery on the eastern coast, the Paradip complex plays a crucial role in:
- Meeting growing domestic fuel demand.
- Supporting petrochemical manufacturing.
- Enhancing export capabilities.
- Reducing import dependence for key petrochemical products.
- Strengthening India’s energy infrastructure.
Its integrated refining and petrochemical operations position Paradip as a critical hub in India’s evolving energy landscape.
International Perspective
Commenting on the development, Michael Anderson, an American energy infrastructure analyst, said:
“Large integrated refinery and petrochemical complexes like Paradip create long-term economic value by combining fuel production, petrochemical manufacturing, employment generation, and supply chain development. Continued investment of this scale strengthens both regional industrial competitiveness and national energy security.“
Meanwhile, Jennifer Collins, a U.S.-based industrial development expert, observed:
“The Paradip expansion illustrates how strategic investments can simultaneously support manufacturing, infrastructure, employment, and sustainability. By integrating petrochemicals with refining and introducing projects such as Sustainable Aviation Fuel, IndianOil is positioning the complex for future energy and industrial demands.“
Key Highlights
- Indian Oil Corporation Limited (IndianOil) has invested over ₹43,359 crore in developing the Paradip Refinery, Polypropylene Plant, and Mono Ethylene Glycol (MEG) Unit in Odisha.
- The integrated complex supports the livelihoods of more than 12,500 people and has become a major contributor to the state’s industrial growth.
- IndianOil is investing an additional ₹13,805 crore in the Paraxylene–Purified Terephthalic Acid (PX-PTA) Project, along with ₹4,382 crore in the Bhadrak Textile Park and ₹1,064 crore in a Sustainable Aviation Fuel (SAF) Project.
- During FY 2025–26, the refinery processed a record 16.35 million metric tonnes of crude oil and commissioned important facilities, including the Standby Sulphur Recovery Unit-III and New Hydrogen Generation Unit.
- The refinery contributed more than ₹30,392 crore in taxes and duties to the Central and State Governments during the financial year.
- Between FY 2014–15 and FY 2025–26, IndianOil invested ₹56.71 crore in CSR and CER initiatives covering education, healthcare, nutrition, skill development, and rural welfare.
- Paradip Refinery, dedicated to the nation in 2016, remains the largest refinery on India’s eastern coast and continues to strengthen India’s energy security, petrochemical capacity, and sustainable industrial development.
