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|Owner(s)||Indian Oil Corporation Limited|
|Capacity||300,000 bbl/d (48,000 m3/d)|
Paradip Refinery is IndianOil’s 11th Refinery. It was dedicated in the service of the nation by PM Shri Narendra Modi on February 7, 2016. Envisioned as the Energy Gateway to Eastern India, the 15 MMTPA Refinery has been set up at an estimated cost of Rs. 34,555 crore. The foundation stone for the refinery was laid by former Prime Minister Atal Bihari Vajpayee in May 2002.
Officials said building the refinery was a mammoth task with 2.8 lakh ton of steel, equivalent to 30 Eiffel Towers or about 350 Rajdhani trains, being used in its construction. It has 11.6 lakh cubic meter of concreting equivalent to 3 times volume of Burj Khalifa, Dubai.
Pipes running to 2,400 km have been used, which is almost the length of Ganges. A Mercedes-Benz S-Class car can pass through the largest diameter pipeline of 126-inch.
The refinery expected to start production in the third quarter of 2013. Due to delays the cost of refinery project has increased by 2.5%.It was finally inaugurated by Prime Minister Narendra Modi on February 7, 2016.
The refinery is built at a cost of Rs 34,555 crore and can process dirty and heavy crude oil from Latin America.Located 140 km from the state capital Bhubaneswar, Paradip refinery is one of the most modern refineries in the world which can process cheaper high sulfur heavy crude oils. It has a complexity factor of 12.2.
It will produce 5.6 million tonnes per annum of diesel,3.79 million tonnes of petrol and 1.96 million tonnes of kerosene/ATF. Besides 790,000 tons of LPG and 1.21 million tonnes of pet-coke would also be produced.
The refinery sent out its first consignment of products comprising diesel, kerosene, LPG on November 22, 2015. Presently, the refinery would produce petrol and diesel of Bharat Stage IV (BS IV) and later will switch to BS VI quality to comply with Auto Fuel Policy.
The refinery has plans to set up an Ethylene Recovery Unit/Mono-Ethylene Glycol (MEG) at an estimated cost of Rs 3,800 crore.It is expected to be completed by 2020-21.The refinery will also be designed to produce Euro-V premium quality Motor spirit and other green auto fuel variants for export to developed countries.
Government of Odisha has announced nil sales tax on the refinery products for the period of 11 years from the date of commissioning of the project.Besides, the state government has also allowed 30 years exemption on CST collection to the project.
- India, Press Trust of (7 February 2016). "PM inaugurates Indian Oil's Paradip refinery". Retrieved 22 October 2016 – via Business Standard.
- "Paradip Refinery likely to be ready by November 2013". newstrackindia.com. Retrieved March 20, 2013.
- "IOCL confident to start Paradip refinery by Oct-Dec 2013". Business Standard. 4 October 2012. Retrieved 24 January 2013.