Bhubaneswar: Indian chemical industry has a potential generate 2 million jobs in next five years, said the Nalco CMD TK Chand.

Addressing the first foundation day function of the Institute of Chemical Technology(ICT) at the Indian Oil Odisha campus, here on Thursday, Chand said that the chemical industries has a large and growing market in the country. 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, he added.

The CMD said that Nalco is going to set up its second caustic soda plant at Paradeep in  Odisha at an investment of more than Rs 3000 crore. Stating that the first caustic soda plant of the company set up in Gujarat is set to be commissioned next yea, he said that Nalco would benefit to the tune of Rs 120 crore annually because of this facilities.

Welcoming the establishment of ICT in Bhubaneswar, 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.