IOC ties up with WB Govt for chemical hub | india | Hindustan Times
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IOC ties up with WB Govt for chemical hub

IOC, being the anchor investor in the chemical hub, is going to set up a 15-mn tonne refinery at Haldia.

india Updated: Sep 27, 2006 16:14 IST

State-owned Indian Oil Corporation (IOC) on Wednesday, signed an agreement with West Bengal government for setting up a world class petroleum, chemical and petrochemical hub at Haldia.

The chemical hub would come up on 10,000 acre at the Special Economic Zone at Haldia, Chief Minister Buddhadeb Bhattacharjee said in the presence of IOC Chairman Sarthak Behuria at the state secretariat after signing the agreement.

IOC would be the anchor investor in the chemical hub and Indonesia-based Salim group would be the anchor developer, he said.

The proposed chemical hub would be named after renowned scientist Acharya Praful Chandra Roy, industry minister Nirupam Sen said.

Describing it as a 'historic' occasion, the IOC chairman said it would be a world class petrochemical hub which, would include setting up of a 15 million tonne refinery for which, IOC was looking for a global partner.

He, however, said that quantum of investment to be made by IOC was not yet finalised. "It will take some time. We have signed the agreement," he said.