India, July 31 -- Indian Oil Corporation Ltd (IOCL) on Wednesday announced that it made a cumulative investment of around Rs 43,359 crore at Paradip, reinforcing the port town's emergence as an integrated energy and petrochemical hub. The company said the investments will generate livelihood opportunities for over 12,500 people in and around the region.

The investment portfolio includes Rs 34,555 crore in the state-of-the-art Paradip Refinery units, Rs 3,150 crore in the polypropylene plant and Rs 5,654 crore in the mono ethylene glycol (MEG) plant. In addition, IOCL is investing Rs 13,805 crore in the ongoing paraxylene-purified terephthalic acid (PX-PTA) project at Paradip to further strengthen the petrochemical value chain, as per a ...