Bhubaneswar, Sep 12 (IANS): Odisha will receive investment of about Rs.1 lakh crore during in the coming five years in petrochemicals, oil and gas sector, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan said here Friday.

The Indian Oil Corporation Limited has already invested Rs.34,000 crore to set up a 15 million tonnes capacity oil refinery at the port town of Paradip, he said.

Odisha will be one of the few states which will have gas from three sources - imported liquefied natural gas (LNG), domestic natural gas, and Coal Bed Methane (CBM), he said.

"All these steps shall make Odisha the 'Energy Gateway' for Eastern India," the minister told reporters after meeting Chief Minister Naveen Patnaik and holding discussion on various projects in petroleum and natural gas sector that are at different stages of implementation in the state.

"These projects will change the industrial landscape of Odisha. These projects put together will generate employment opportunity for more than 50,000 youth of the state," he said.

The ministry of petroleum and natural gas is also setting up hydrocarbon skill sector council which, inter alia, will develop skill and entrepreneurship of youth in trades specific to the sector, he added.

One of the regional centres for development of skill and entrepreneurship will be set up in the state which will cater to the skill needs of the youth of the eastern region, he said.