IndianOil Paradip Refinery: ₹43,359 Crore Investment Transforms Odisha, Drives Growth
IndianOil has invested ₹43,359 crore in its Paradip Refinery and plans ₹13,805 crore more for PX-PTA, ₹4,382 crore for Bhadrak Textile Park, and ₹1,064 crore for SAF. The refinery processed a record 16.35 MMT crude in FY26. It contributed ₹30,392 crore to the exchequer and invested ₹56.71 crore in CSR/CER.
The announcement details substantial capital expenditures, strategic project developments, and record operational performance, which are likely to have a significant long-term impact on the company's growth, market position, and contribution to the regional and national economy.
The announcement highlights significant investments, operational achievements, awards, substantial contributions to the exchequer, and impactful CSR initiatives, all indicating positive progress and commitment by IndianOil.
IndianOil Corporation Limited has announced significant ongoing and planned investments at its Paradip Refinery, totaling approximately ₹43,359 crore. This cumulative investment includes state-of-the-art Refinery Units (₹34,555 crore), a Polypropylene Plant (₹3,150 crore), and a Mono Ethylene Glycol (MEG) Plant (₹5,654 crore), which currently support over 12,500 livelihoods.
Further strengthening its petrochemical value chain, IndianOil is investing an additional ₹13,805 crore in the Paraxylene - Purified Terephthalic Acid (PX-PTA) project. The company also plans investments of ₹4,382 crore in the Bhadrak Textile Park Project through a joint venture with MCPI Private Limited, and ₹1,064 crore in a Hydroprocessed Esters and Fatty Acids (HEFA) based Sustainable Aviation Fuel (SAF) project through a joint venture with M11 Energy Transition Pvt. Ltd. These investments align with IndianOil's strategic vision to develop Paradip into an integrated energy and petrochemical hub, promoting self-reliance and the national energy transition.
During FY 2025-26, the Paradip Refinery achieved operational excellence by processing a record 16.35 Million Metric Tonnes of crude and commissioning the Standby Sulphur Recovery Unit-III (SRU-III) and the New Hydrogen Generation Unit (NHGU). The 1.2 MMTPA Purified Terephthalic Acid (PTA) Unit is nearing completion. The refinery also received multiple awards for safety and environmental excellence in FY 2025-26.
In terms of economic contribution, the Paradip Refinery contributed over ₹30,392 crore to the state and central exchequer during FY 2025-26. Furthermore, IndianOil has invested ₹56.71 crore in CSR and CER initiatives from FY 2014-15 to FY 2025-26, focusing on education, healthcare, rural development, and self-employment.
Mr. Kausik Basu, Executive Director & Refinery Head of Paradip Refinery, stated that these investments reaffirm IndianOil's commitment to developing Paradip into a world-class integrated Refinery and Petrochemical hub, enhancing energy security and sustainable development.
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