Taiwan-based CPC Corp is planning to invest $6.6bn in a petrochemical project in Paradip, Odisha, India. In this regard, delegation led by CPC president Shun-Chin Lee met the Indian Minister for Petroleum & Natural Gas Dharmendra Pradhan to discuss the proposal.

With an annual production capacity of 15 million tonnes, the Indian Oil Corporation’s (IOC) Paradip Refinery was selected to host the new project, which will utilise the refinery’s feedstock. It will have many downstream units for the production of a wide range of end products and petrochemical intermediates, reported The Hindu Business Line.

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