Indian Oil Corporation (IOC) has decided to put on hold a petrochemical complex, originally planned to be set up along with a 15 mln tpa export oriented refinery in Paradip. Several factors have actedd in tandem to reverse the original plans of IOC including the global meltdown, the liquidity crunch and a three-fold increase in the combined project cost to over Rs 45,000 crore.
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Monday, December 29, 2008
Indian Oil Corporation puts petrochem project on hold, to focus on refinery
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