Indian Oil Lays Foundation for Major Petrochemical Hub in Odisha, Eyes 80 Million Ton Demand by 2040

A report by Z. A. Ansari: At the Odisha Investors’ Meet held at Hotel Taj, New Delhi, Indian Oil Chairman Mr. A. S. Sahni announced a landmark initiative to set up a world-class petrochemical hub in Odisha. The project is being developed in collaboration with the state government and is expected to be operational within the next four to five years.

Addressing industry leaders and investors, Mr. Sahni highlighted the urgency of strengthening India’s domestic petrochemical capacity. “Currently, around 22% to 25% of India’s petrochemical needs are being met through imports,” he said. “If we don’t act now, by 2040 the demand is expected to triple—reaching nearly 80 million tons annually.”

The new petrochemical complex, he noted, will not only reduce import dependency but will also serve as a major industrial catalyst for Eastern India. “This will be one of the most critical infrastructure investments for the capital goods and chemical sector. It aligns perfectly with the Hon’ble Prime Minister’s vision of making India a $10 trillion economy,” Mr. Sahni added.

Industry observers see this as a strategic move, especially at a time when India is actively working toward energy security, industrial self-reliance, and creating globally competitive manufacturing zones.

The Indian Oil project is expected to create a strong industrial ecosystem in the eastern region, unlocking new opportunities for both public and private sector stakeholders.