Odisha will get a massive investment plan to the tune of Rs1 lakh crore in petroleum and natural gas sector and would turn out to be the energy gateway of eastern India, asserted Union Petroleum and Natural Gas Minister Dharmendra Pradhan here on Friday.
Addressing a Press conference here, Pradhan said that while the ongoing Rs34,000 crore mega Paradip oil refinery of 15 MTPA capacity would be commissioned in early 2015, the State would receive about Rs1 lakh crore worth of investment during the next five year in petrochemicals, oil, gas pipelines, lNG, lPG terminals and strategic oil reserve etc.
The commissioning of the projects would help create employment opportunity for more than 50,000 skilled youths of the State, Pradhan said, adding the State Government would get an additional Rs3,000 crore revenue towards tax per annum in next five to seven years.
Pradhan said that the largest underground “Strategic Petroleum Reserve” facility would be set up at Chandilkhole with an investment of Rs3,800 crore. The preliminary survey work has already been completed by the Indian Oil for the proposed 3.7 MMT per annum project. The State Government has agreed to provide the required 400 acres of land for the project which could meet the country’s demand for oil for eight days at the time of emergency, he informed.
Pradhan said that the Petroleum Ministry had already set up a special purpose vehicle (SPV)- Indian Strategic Petroleum Reserves ltd (ISPRl) for setting up such reserves across the country. The Chandikhol project would be the eight in the country to be put up in the second phase.
Pradhan said that he met Chief Minister Naveen Patnaik at the State Secretariat earlier in the day to apprise him about the projects which were in different stages of implementation in the State and the upcoming planned projects. During the meeting, Patnaik’s response was very positive as far as land acquisition, environment, forest clearances, maintaining law and order and other related statutory approvals for smooth implementation of the projects are concerned, he said.
Pradhan said that his ministry would also set up Hydrocarbon Skill Sector Council which inter-alia will develop skill and entrepreneurship of youths in trades specific to petroleum and natural gas sector. Besides, a Regional Center for Skill Development in eastern India would be established in Odisha to cater to the skill needs, he said.