Pursuant to Regulation 30 read with Part A of Schedule III of SEBI (LODR) Regulations 2015, it is hereby informed that the Board of lndianOil at its meeting held on 21st March 2023 has accorded 'in-principle' approval to carry out pre project activities including preparation of Detailed Feasibility Report for setting up Paradip Petrochemical Complex at Paradip, Odisha at an estimated project cost of Rs. 61077 crore. The project shall improve the Petrochemical Intensity Index of the Company and de-risk its fossil fuel business. It shall also help to reduce the import dependency and contribute to vision of 'Atmanirbhar Bharat.'