News Post
Taiwan's CPC Corp unable to find land for petrochemicals project in Paradip
Eight months after Odisha wooed Taiwanese investor CPC Corporation at a much-publicized investor summit, the company is unable to find land to set up its Rs 45,300 crore petrochemicals project in Paradip. There is hardly any land available for CPC or other prospective investors in and around Paradip
A delegation from Taiwan Petrochemical Alliance led by Lee Shun-Chin, president of CPC Corporation, had surveyed the proposed site of the petrochemicals project at Paradip in August 2018. The corporation’s officials also held talks with the authorities of the Paradip Port Trust (PPT). the report added that before visiting the site, the delegation had negotiations with Dharmendra Pradhan, minister for petroleum and natural gas.
“The successful operations of the projects proposed by CPC Corporation were contingent on a consistent supply of feedstock by Indian Oil Corporation’s (IOC) refinery unit at Paradip,” said CPC Corporation.
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