Indian Oil has announced that Taiwan energy giant CPC is considering investing $6.6 billion in a petrochemicals complex at its refinery in Paradip, Odisha, India. A delegation from Taiwan, which comprised government officials and senior executives from CPC, met with Indian ministers on Jul. 31 to discuss the proposal.

The Indian energy giant said that during the talks, the 15 million t/y Paradip refinery  emerged as a suitable location for a greenfield cracker and downstream plants.The Taiwanese delegation is now planning a site visit to the refinery and Paradip port and to hold further discussions with both Indian Oil and state government officials.

CPC is also reported to be in talks with India’s Adani Group to set up a petrochemicals complex at Mundra in Gujarat state, as well as with Pertamina to establish a joint venture in Indonesia.

Last year, the Taiwanese group was looking at investing in shale gas extraction and a petrochemical plant in the US. To date, there has been no further news on these plans.