IOC petchems site to become a major industrial hub.(Indian Oil Corp)

Indian Oil Corp. (IOC; New Delhi) says the Haryana state government plans to develop Panipat, India, where IOC is building a petrochemical complex, into a major industrial hub with an investment potential of Rs300 billion ($6.9 billion). The state government is in discussions with potential downstream investors to build new units at Panipat where they will be able to source feedstocks for their plants from IOC. Haryana chief minister Bhupinder Shingh Hooda says the government's new industrial policy will give priority to building infrastructure to attract domestic and foreign investors.

IOC is investing $1.5 billion-$1.6billion to build its first petchem complex at …