Investors Conclave at Surat to Focus on Mega Opportunities in Textiles & Plastics Downstream Sectors in Odisha New Delhi 01-Sep-2018
About the Conclave
Indian Oil Corporation Ltd. (IndianOil), under the aegis of the Ministry of Petroleum & Natural Gas, Government of India, is organising a first-of-its-kind Textiles and Plastics Investors Conclave at Surat on 2nd September 2018.
The theme of the Conclave, being organised in association with ONGC Petro additions Ltd. (OPAL), is "Purbodaya: Unfolding Mega Opportunities in Textiles & Plastics Downstream Sectors in Odisha.” Shri Dharmendra Pradhan, Hon’ble Union Minister for Petroleum and Natural Gas, Skill Development & Entrepreneurship, has been invited as the chief guest to inaugurate the Conclave. Sh. Pradipsinh Jadeja, Minister of State for Home, Law & Justice, Energy and Parliamentary Affairs, Govt of Gujarat; will grace the occasion as Guest of Honour.
Senior officials of the ministries of Petroleum & Natural Gas, Chemicals & Fertilisers, Government of India, CEOs of oil & gas, petrochemicals, polyester, textiles and allied sector companies and other guests and invitees will be participating in the event. In all, about 1,000 delegates across India are expected to take part in the Conclave.
An exhibition is also being organised for various established players of textiles and plastics industries to showcase their products & expertise for the benefit of the delegates and prospective investors.
The Conclave will highlight the emerging investment opportunities in the downstream petrochemicals sector in Odisha in general and to facilitate investments in the proposed Textiles Park at Bhadrak and Plastics Park at Paradip in particular. The Conclave will serve as a platform for prospective investors to interact with business leaders of the industry, Government functionaries, financial institutions, supply chain professionals as well as incubators in the academia at one place.
The unique Conclave will comprehensively focus on the following topics, which would be of immense help to established as well as young investors/start-ups to chart their growth plans:
● Outlook for Indian polyester downstream industry ● Learnings from textiles industry value chain in China & Bangladesh ● Investment opportunities in Plastics Park and Textiles Parks in Odisha ● Potential in technical textiles ● Need for quality revolution to achieve dominance in global polyester textile and apparel market ● Downstream polymers industry outlook ● Investment opportunities in injection-moulded PP products ● Growth prospects in PP non-woven fabrics & PP raffia for bulk packaging ● Innovative project financing schemes for entrepreneurs and start-ups ● Logistics as an enabler in Odisha ● Incentive framework being offered by various Government agencies like IDCO, technical process details, and so on.
An Investor Facilitation Centre is being set up to provide guidance to the prospective investors in Plastics Park at Paradip and Textiles Park at Bhadrak. Representatives from Central Government organisations, State Government, IndianOil and financial institutions will guide the investors in this facilitation centre.
An exhibition is also being organised for various established players of textiles and plastics industries to showcase their products & expertise for the benefit of the delegates and prospective investors.
Petrochemicals, Textiles & Plastics: Sunrise Industry in Eastern India
The petrochemicals sector provides the basic raw material to the plastics and textiles sector in the form of Purified Terephthalic Acid (PTA), Mono Ethylene Glycol (MEG) and Polymers like Polypropylene (PP), Polyethylene (PE) and a number of other hydrocarbon products.
Currently, India's per capita consumption for plastics is at about 10 kg per person, which is low in comparison to the global average of about 32 kg. With the rise in living standards, the buying capacity for clothes, houses, furniture, automobiles and household items has increased, adding to the polymer consumption demand in India.
Odisha has immense potential for the growth of the plastics and textiles sectors with convenient access to all the primary raw material needed. The region also has the necessary infrastructure, including ports, railway connectivity and road networks, that will facilitate the speedy development of the two sectors.
The Government of India has identified Paradip as one of the four PCPIRs (Petroleum, Chemicals and Petrochemicals Investment Region) in the country. It is the most strategically located PCPIR approved by the Government of India. With IndianOil as the anchor tenant, it is being developed to provide an ecosystem for attracting and promoting exclusive investments in petroleum, chemicals, petrochemicals and allied sectors.
IndianOil's Projects in Odisha
IndianOil has a strategic role in Odisha with its big presence and ambitious expansion plans in the petroleum refining and petrochemical segments. The Company has already commissioned a 15-million metric tonnes per annum refinery at Paradip at an investment of Rs. 35,000 crore.
A new polypropylene unit of 700 KTA (kilo tonnes per annum) capacity is getting ready at IndianOil’s Paradip Refinery complex to support the plastics industry. Estimated to cost Rs. 3,150 crore, the plant is getting ready to be commissioned by the end of this year.
The Plastics Park at Paradip, being jointly developed by IDCO and IndianOil in JV mode, will utilise polypropylene from Paradip Refinery complex. The Park is spread over 120 acres, out of which 70 acres will be available for industrial plots. The downstream units coming up in the Park will have access to state-of-the-art facilities, including CIPET’s Polymer Processing and Evaluation Centre (PPEC), to support innovation and diversified growth. The units likely to come up include raffia for cement bags, FIBC, etc.; injection moulding units for furniture items, houseware, caps, etc., BOPP and TQPP for flexible packaging; and non-woven for hygiene applications. The net employment generation from the Park will be more than 7,000.
IndianOil is also planning to set up two more mega projects in Odisha at a combined investment of Rs 13,000 crore for producing polyester fibre intermediates, MEG (Mono Ethyl Glycol) and PTA (Purified Terephthalic Acid). Polyester is the most prominent textile fibre with a share of over 55% of global consumption. Its end-use includes apparel, home textiles, technical textiles and accessories.
India’s current domestic textiles and apparel market is estimated at US$ 125 Billion, and is expected to grow at 11% CAGR to reach US$ 220 Billion by the year 2025. Growth of disposable incomes, favourable demographics and changing lifestyles will further add to the demand.
There is a huge potential for investment in this segment since the value chain from fibre/yarn to finished clothes/apparel involves a plethora of activities like weaving/knitting/dying/cutting/sewing/garmenting, etc. Hence, apart from the commercial aspects, this is expected to create thousands of jobs across categories for the benefit of the local population.
A Textiles Park is expected to come up in Bhadrak district of Odisha. The integrated Textiles Park, to be developed in 234 acres, will house units from across the entire value chain – from polyester fibre to apparel. IndianOil will make available the basic raw material, i.e., PTA & MEG, within the State itself, for the downstream industries.
The above measures are expected to significantly boost the economy as well as create huge employment opportunities in eastern India.
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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
ndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
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The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
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In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
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Data Privacy Policy
GRIEVANCE OFFICER
In accordance with the Indian Information Technology Act 2000 and the rules notified
thereunder, the contact details of the Grievance Officer are provided below:
Sh. Abhinav Bhatt,
Corporate Business Technology Centre,
Indian Oil Institute of Petroleum Management Campus,
Plot No. 83, Institutional Area,
Sector 18, Gurugram,
Haryana – 122001
Click here to view IndianOil's Data Privacy Policy (Offline Data Collection).
Click here to view IndianOil's Data Privacy Policy (Online Data Collection).
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The Policy is subject to modifications from time to time. If IOCL decides to change this Policy, IOCL shall publish the modified Policy on its website.
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