Companies specialising in corrosion control have evinced interest to sink in Rs 10,000 crore investments in Odisha. Investments are expected to be concentrated on the coast around Paradip which possesses a cluster of industries in steel, refinery and products pipeline sectors.
As per initial estimates, more than 10 companies are set to invest in this emerging space. Their intent was manifested at the recent national conclave on Corrosion Control. The conference inaugurated by Union minister for petroleum & natural gas Dharmendra Pradhan would conclude on December 7.
Due to corrosion losses, India loses about four to five per cent of its GDP. Corrosion eats into steel, considered to be the vital backbone of the country’s burgeoning infrastructure.
The National Association of Corrosion Engineers (NACE) will launch a report on corrosion losses in India by February 2019, said an official on Tuesday.
“According to a 2016 report, the annual loss due to corrosion is around 3-4 per cent of global GDP. NACE, a US-based organisation, will come up with a detailed report by February 2019 on corrosion losses in India,” said A.K. Tewari, Executive Director (Pipelines), Indian Oil Corporation.
He said the 19th National Conference on Corrosion Control will be held in Bhubaneswar from Wednesday to Friday to deal with the industrial corrosion problems.
The conference is being organised by the National Corrosion Council of India (NCCI) in collaboration with CSIR-Central Electrochemical Research Institute and Indian Oil Corporation (Pipeline Division).
It is hosted by South Eastern Region Pipelines (SRPL), Bhubaneswar.
The conference will analyse various industrial corrosion problems and provide a platform for interaction between industrialists, scientists and professionals to enhance the state of the art knowledge on corrosion science and engineering.
P.C. Choubey, SERPL Executive Director, said that around 400 delegates including chief executive officers, technocrats and scientists are participating in the conference.
He also said that the Paradip-Hyderabad pipeline project with an investment of Rs 3,300 crore will be completed by the end of 2020.
The oil PSU will lay the Paradip – Hyderabad pipeline line (PHPL) to evacuate products like motor spirits, high-speed diesel, kerosene and aviation turbine fuel (ATF) from its refinery at Paradip.
The laying of the 1212 Km pipeline has already commenced and the project is listed in National Perspective Plan under the Sagarmala Programme announced by Prime Minister Narendra Modi. The pipeline will ensure uninterrupted supply of the petroleum products for catering the growing demand in the states of Odisha, Andhra Pradesh and Telangana.