Chemical Industry Capable of Creating 2 Million Employment in Next 5 Years – ICT, Bhubaneswar to Push Growth of Chemical Industry in the State says NALCO CMD Dr. T.K.Chand

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Bhubaneswar: “The requirements of industries are varied and dynamic. The skill-sets need to be matched with the industry requirements for bringing out the best in business. Both industry and academia need to collaborate if India is to sustain the rapid pace of development, matching with global standards”, said Dr. Chand , while addressing at the 1st Foundation Day celebration of Institute of Chemical Technology(ICT) at the Indian Oil Odisha Campus, here at Bhubaneswar, yesterday.

Welcoming the establishment of Institute of Chemical Technology in Bhubaneswar, Dr Chand said, that the institute will provide the much desired platform for industries and academicians under one roof to bridge the gap between industries and academic institutions in the areas of curriculum, industry-preparedness, research and development and will also help upskill young professionals to make them ready for Industry 4.0.

Indian Chemical Industry has a large and growing domestic market. And with more than 80000 products used as input by other industries, the market size of chemical industry is near to 165 billion dollars, which is likely to be doubled in next 5 years, said Dr. Chand.

“With Odisha emerging as a choice destination for investment with required eco-system for Industries, and coming up of premier institutions like Institute of Chemical Technology, NALCO’s decision to set up its second caustic soda plant at Paradeep in Odisha at an investment of more than Rs.3000 crore is a timely one. I hope that the first caustic soda plant of the company set up earlier at Gujarat, which is set to be commissioned next year would benefit NALCO to the tune of Rs.120 crore annually,” he added.

 

Dr Chand also pinned his hope that with the establishment of internationally recognized Institutions in this part of the country for dissemination of global knowledge and timely information to industries to use in the development and implementation coupled with the rich natural resources of the state will certainly lead to Eastern India in general and Odisha in particular emerging as a hub of Chemical industries in the near future. Dr. Chand further stressed that Chemical industries greatly contribute towards the growth and development of MSME sectors and shall pave way for large-scale employment to the youth.

Among others, Shri Aditya Prasad Padhi, Chief Secretary & Chief Development Commissioner, Govt of Odisha, Prof G.D. Yadav, Vice Chancellor, ICT, Prof Damodar Acharya, Independent Director of NALCO and Prof B.N. Thorat, Director ICT-IOC, Bhubaneswar were notably present on the occasion.

Worth mentioning, NALCO headquartered in Bhubaneswar, is the one of the biggest Chemical processing industry with global benchmark of being the lowest cost producer of both Alumina and Bauxite in the World, thereby demonstrating excellence achieved by a home grown industry.

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