Indian Oil Corporation Limited (IOCL) is scouting for land as it plans to expand its petrochemical complex at Paradip. New units are likely to be established on this land. The company is also planning to ramp up the refinery to make it compliant with BS-IV emission norms. According to a government official, IOCL has asked for additional 2700 acres of land from the Odisha Government for its expansion plans.

The company may infuse additional investments worth Rs 25,000-30,000 crore to commission new units of its petrochemical complex.