ODISHA: Indian Oil Corporation’s (IOC) latest refinery here, the first in over a decade for the nation’s largest fuel major, started production of petrol from the Rs.34,555-crore facility on Sunday.

Prime Minister Narendra Modi will dedicate the 15 MMTPA Paradip Refinery, which will primarily be producing BS-IV fuels and serving the eastern and southeastern markets apart from exports, to the nation on February 7.

The commissioning of the refinery comes after 14 years, owing to many flip-flops by the Naveen Patanik government on incentives, withdrawal of its foreign partner Kuwait Petroleum and stiff frequent opposition from locals, state politicians and NGOs apart from two killer cyclones. The foundation stone for the refinery was laid by former Prime Minister Atal Bihari Vajpayee in May 2002, which again was a full one decade after the project was proposed by the PV Narasimha Rao government in July 1992. “We have completed one of the most critical steps of the refinery today. With our 3.9 MMTPA motor spirits unit going critical, we have only VGO-HDT (vacuum gas oil hydrotreater) to be commissioned that will be done by mid next month. “This refinery complex is the most modern facility in the country and also our first and the largest greenfield facility on the East Coast,” Ramjee Ram, Executive Director in-charge of the Paradip Refinery project, told reporters during a plant visit ahead of the formal commissioning. This 15-million tonne refinery is also the largest on the country’s Eastern coast, and is equipped with the latest technology. Cost overrun The Rs.34,555-crore project, which had incurred a cost overrun of over Rs.3,500 crore due to delays that it had to face apart from two cyclones, is coming up at a 3,350 acre area adjoining the Paradip Port.–PTI