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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 million tonnes per year Refinery has been set up at an estimated cost of Rs. 52,555 crore. The foundation stone for the refinery was laid by former Prime Minister Atal Bihari Vajpayee in May 2002.
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.
The refinery sent out its first consignment of products comprising diesel, kerosene, LPG on November 22, 2015.
At present the refinery is fully operational and is producing BS-VI complaint Fuel. A petrochemical Complex comprising PP units, ERU-MEG Unit and PX-PTA Units are also coming up under the Petchem Complex
A Polypropylene Plant is also commissioned in FY 2019-20 in the refinery Premises and PP product is also being Produced.
ERU-MEG Unit is planned for commissioning in FY:2021-22. PX-PTA PROJECT is slated for commissioning in FY 2023-24
The Government of Odisha has announced nil sales tax on the refinery products for the period of 11 years.
- "PM inaugurates Indian Oil's Paradip refinery". Press Trust of India. 7 February 2016. 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.