UAE-based Uniplas has evinced interest for setting up a petrochemical complex in Odisha’s PCPIR region.
The Union ministry of chemicals & fertilizers has urged the Odisha government to examine the possibility of establishment of a petrochemical complex at the state's PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) hub by UAE-based Uniplas Petrochemicals Ltd.
Uniplas is keen to set up a 150 kilo tonne per annum capacity petrochemical complex that will produce caustic soda, ethylene, chlorine, PVC (polyvinyl chloride) and PVC compounds. The project is estimated to cost around Rs 5,500 crore which will be funded through bringing in a 100 per cent FDI. the proposed complex requires around 400 acres of land.
Uniplas is exploring the possibility of setting up grassroot complex to produce PVC for sale in the Indian as well as overseas market. The company is at present examining the possibility of investing in the Gujarat PCPIR.