Indian Oil Corporation Limited (IOCL) is planning to sign a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of a Dual Feed Naphtha Cracker Project in Odisha on 8th April, 2025 during Odisha Investors' Meet organised in New Delhi by the Government of Odisha in collaboration with FICCI. 

The MoU will be signed in the presence of Mohan Charan Majhi, Chief Minister of Odisha, Hardeep Singh Puri, Union Minister of Housing and Urban Affairs & Petroleum and Natural Gas, Government of India, and senior officials from Government of Odisha and Indian Oil Corporation Limited. 

This strategic initiative is set to significantly enhance the petrochemical and downstream industries, contributing to the state's industrial ecosystem by providing essential raw materials for the chemical, petrochemical, technical, textile and plastic sectors.