Naphtha cracker plant dedicated to the nation

Chandigarh, Feb 15 : India’s largest Naphtha Cracker Plant set up at a cost of Rs 14,000 crore at Indian Oil’s Panipat Refinery Complex has been dedicated to the Nation by the Union Minister of Petroleum and Natural Gas Mr S. Jaipal Reddy at Panipat today.
While speaking on the occasion, Mr. Jaipal Reddy said that Haryana was progressing fast under the dynamic leadership of the Chief Minister Bhupinder Singh Hooda.
Mr Reddy also appreciated that with the inauguration of Naphtha Cracker Plant, Indian Oil has crossed one more milestone. This will be Haryana’s biggest industrial complex, which would produce feed for downstream polymer units. Referring to oil production, Mr. Reddy said that India was importing 80 per cent of its need of petroleum. All out efforts were being made to expand the Refineries, but he said people should use oil as little as possible. We should discover more sources for increasing the oil production.
Haryana Chief Minister, Mr Bhupinder Singh Hooda who presided over the function said that Naphtha Cracker Plant was completed in a record time of 46 months with investment of over Rs. 14,000 crore. For this, Government of Haryana contributed about 2700 acres land and provided fiscal incentives. For downstream industries, an industrial estate is being developed for which 900 acres land has been acquired. A national level Central Institute of Plastics Engineering and Technology is being set up at Murthal to meet the skill requirements of the industry.
Mr. Hooda appreciated that Indian Oil Corporation had agreed to implement the Resettlement and Rehabilitation Policy of Haryana Government for latest acquisitions. Mr Hooda urged the IOCL to spearhead its Corporate Social Responsibility agenda, especially for the land oustees and provide employment to at least one dependent member from each family, whose land has been acquired for this complex. While describing Haryana as one of the most industrialised states in the country, with the manufacturing and services sector contributing about 80 per cent of the state GDP, Mr Hooda said that State’s economy continues to grow at a rate, which is higher than the national growth rate. Haryana is th`e leading manufacturer of consumer products like passenger cars, motorcycles, refrigerators, washing machines, bi-cycles and tractors. Haryana also maintained its leadership position in terms of agricultural produce and productivity and is the second largest contributor of foodgrains to the Central pool and the largest exporter of the basmati rice in the country. Mr Hooda said that Haryana was amongst the top states in terms of per capita income, next only to Goa. During the last six years or so, the State had attracted investment to the tune of Rs. 53,000 crore from both domestic and international sources and investment worth Rs. 1,00,000 crore was in pipeline. A recent study by ASSOCHAM has commented that Haryana has achieved 81 per cent implementation rate of pledged investments, significantly ahead of states like Gujarat, Maharashtra, Tamil Nadu and Karnataka. As per the CMIE report of 2007, Haryana moved from the 13th position in the country in 2002 to occupy the top position in the country in terms of per capita investment of Rs.78,500. Haryana Government has recently announced the Industrial-cum-Investment Policy-2011 which intends to take forward the initiatives of the previous policy and lays greater focus on development of the hinterland for facilitating inclusive economic growth. New Industrial Estates were being set up at strategic locations.
He said that issues regarding connectivity were being addressed by building new expressways and up-grading the existing ones and mass rapid transit systems. New power projects were being set up to enhance the present capacity to 9000 MW. The Government of India has also agreed for setting up of a Nuclear Power plant in the State, he added. He reiterated the commitment of the State Government to ensure sustainable and inclusive development and eventually transform Haryana into a first rate agricultural, industrial and service economy. The Indian Oil also celebrates its fifty-second year of growth and consolidation as India’s premier national Oil Company and a Navratna. It is also a celebration of India’s spectacular success in achieving self-sufficiency in the downstream petroleum industry. It is a role model for the Corporates: It demonstrates how a public sector company can compete with private sector professionally without undermining its social obligations. This also is a testimony to the vision of Pandit Jawahar Lal Nehru Ji. The policy of a mixed economy has been vindicated in the recent times of economic turbulence. Our PSUs have withstood this economic shock and have in fact become the favourites of financial experts. This is only due to the principles of sound management and the policies of government which have unlocked their potential. Mr Hooda said that the five decades of IOCL’s existence are symbolic of India’s efforts to meet its strategic requirement of energy security. The Panipat Refinery is IOCL’s technically most advanced plant in the country with a processing capacity of 15 million metric tonnes per annum. These initiatives have made the Refinery, one of the three major Petrochemical Complexes in South East Asia. He complimented IOCL on its achievements and hoped that it continues to move on its path to success and glory.
Union Minister for Housing, Kumari Selja said that it is a moment of national pride. Late Prime Minister Mrs Indira Gandhi had said in 1970’s that Oil Refinery will be established in Haryana and in 1987 Prime Minister Rajiv Gandhi laid its foundation stone at Karnal, she recalled. Kumari Selja said that with growing population more energy will be needed. Reliable and affordable supply of energy is a factor for removing poverty.
Minister of State for Petroleum and Natural Gas, Mr. R.P.N. Singh said it is a matter of happiness that public sector has completed this task of Naphtha Cracker Plant, as against the belief that only private sector could accomplish such things. This will not only benefit Haryana, but the nearby areas also, by generating more employment for youth, he said.
Later addressing a press conference, Mr. S. Jaipal Reddy said that Government has no plan to increase petrol and diesel prices, even though international crude rates have gone up to 100 dollar per barrel. This means that state fuel retailers would end the fiscal with revenue loss of Rs. 80,000 crore on selling diesel, kerosene oil and L.P.G., below cost. Government could meet this loss by way of cash dole out. Another one third could be contributed by upstream companies like ONGC. The rest will be digested by oil marketing companies.
Oil Secretary S Sundresan said that of the Rs. 46,000 crore revenue loss on fuel sales in the first three quarters of the financial year, the Government provided Rs. 21,000 crore and upstream firms contributed one third.
On a question asked by a reporter about the presence of ammonia in water in Delhi, Haryana Chief Minister Mr. Hooda said, it is being examined. Those present on the occasion included Mr. S.V. Narasimhan, Chairman Indian Oil, Mr. S Sundresan Secretary and Mr. L.N. Gupta, Joint Secretary Petroleum and Natural Gas and Executive Director of Oil Refinery, Panipat Mr. R.K. Ghosh.Among other distinguished persons, who were present on this occasion included M.L.A.s Mr Balbir Pal Shah, Mr Dharam Singh Chhokar, former Minister Mrs Prasanni Devi, former M.L.A. Ms Raj Rani Poonam, Deputy Commissioner J.S. Ahlawat, and a number of senior officers of the Refinery.