SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 08 Feb, 2016  

Modi.9.Thmb.jpg PM launches IOCL refinery in Paradip, regrets project delays

forbes-modi.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 08 Feb, 2016
Prime Minister Narendra Modi on Sunday dedicated to the nation a 15-million tonnes a year refinery of the Indian Oil Corporation Ltd. (IOCL) in Paradip (Odisha), and expressed regrets over delay in execution of different projects.

"Projects are marred by delays due to legal and tender processes and local agitations, resulting in cost overruns to the country. Initiatives have to be futuristic and completed before the designated time limit so that the country does not sustain cost overruns due to delays," the prime minister said.

He said a new work culture is being developed to materialise the projects within fixed time frame that would benefit the country.

Modi also took a dig at the Congress after inaugurating the Rs.34,555-crore refinery project of 15 million metric tonnes per annum (MMTPA) capacity, saying: "Nowadays, whenever I go to inaugurate any project, the friends in Congress party say it was started during our time."

Describing Paradip refinery as Odisha's 'Vikas Deep', Modi said it will fulfil the aspirations of the state's bright youngsters. He said it will also take gas cylinders to the homes of the poor across the country.

Modi said the Paradip refinery has set a record of sorts when it came to 'Make in India' initiative -- the refinery will become a source of jobs for lakhs of poor since several downstream industries will come up after its commissioning.

The prime minister said the central government had distributed about Rs.1 lakh crore in recent months under the Micro Units Development and Refinance Agency (MUDRA) scheme to make the youth self-employed.

"MUDRA Yojana has given an opportunity to India's youth to stand on their own feet and become job-creators, not job-seekers. We don't want the youth to be job-seekers; they should be job-creators," said the prime minister.

He said effort was on to decrease oil imports and make India self-reliant in petroleum sector.

"I have asked the petroleum ministry to decrease oil imports by 10 percent by 2022, when India will celebrate 75 years of Independence. The ministry will try hard to be self-reliant in oil," Modi said.

He said the government was also emphasising on solar energy so that it does not depend on other countries for its energy needs. The Indian Oil Corp's refinery was a step towards that goal, he added.

Modi also congratulated the scientists for developing indigenous technology for the refinery project.

"Paradip refinery is made in India, for India and by Indians, using indigenous technology and this has amazed the world," the prime minister said.

The refinery at Paradip would produce 78 crore kg liquefied petroleum gas, 500 crore kg petrol, 680 crore kg disel and 120 lakh quintal petroleum coke.

The project will primarily produce BS-IV fuels and serve the eastern and south-eastern markets, apart from exports.

The refinery is the largest on the country's eastern coast, and is equipped with the latest technology, including IOCL's own patented IndMax technology for better and higher output of liquefied petroleum gas (LPG).

Speaking on the occasion, Odisha Chief Minister Naveen Patnaik urged Modi to ask the Indian Oil Corp. to fulfil its commitment in creating jobs for the region's people.

He also urged the prime minister to grant special category status to Odisha for its further development.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter