Indian Oil is set to invest Rs 61,000 crore in Paradip, Odisha, to establish a major petrochemical complex. This marks the company’s largest single-location investment, featuring a dual-feed cracker and downstream units for producing petrochemicals like Phenol and Polypropylene. The project is expected to boost Odisha’s industrial growth and create employment opportunities, solidifying its position as a key energy hub.

Power Finance Corporation (PFC) has signed an agreement with MMRDA to provide substantial financial assistance, up to Rs 1 lakh crore, for infrastructure projects within the Mumbai Metropolitan Region. This collaboration aims to foster a strong working partnership between PFC and MMRDA. The MoU was formalized in Mumbai, with key figures like Maharashtra Chief Minister Devendra Fadnavis present.

Oil Minister Hardeep Singh Puri announced a Rs 50 hike in LPG cylinder prices, impacting both Ujjwala beneficiaries and regular consumers. Despite the increase, subsidized rates will continue for Ujjwala users, while regular consumers will also see a reduced price.