Odisha to Acquire 3k Acres of Land for a Greenfield Project of Haldia Petrochemicals

Haldia Petrochemicals Limited is one of the renowned petrochemical companies of the country engaged in exploration and refining of hydrocarbons. The company is in West Bengal and was established as a joint venture project of Government of West Bengal, Indian Oil Corporation, the TATA’s and The Chatterjee Group. To strengthen its grip on the domestic and international petrochemical sector, Haldia Petrochemicals has proposed a greenfield project of a hydrocarbon processing unit which will include an aromatic complex, light crude oil refinery and ethylene cracker complex. Taking the proposal forward, Odisha Industrial Infrastructure Development Corporation (IDCO) has started looking into the acquisition of around 3k acres of land in Balasore district. This acquisition is anticipated to be a challenging task for IDCO since a considerable part of the identified land for the plant falls under forest as well as private property. Moreover, IDCO has been asked to accomplish this substantial acquirement of land within 18 months so that the financial as well as technological acquisitions for the projects are not delayed.