Bhubaneswar, Jun 25 (IANS): The Product Application and Development Centre (PADC) set up by the Indian Oil Corporation Ltd (IOCL) to support the development of polymer industry was inaugurated in Odisha's Paradip on Thursday.

Chief Minister Naveen Patnaik and Union Petroleum Minister Dharmendra Pradhan inaugurated the centre through a video conferencing.

Built on 5 acres of land with a capital expenditure of Rs 43 crore, the PADC is the sixth centre of its kind in the country and second in eastern India.

"This centre is not only perform a pivotal role in developing new materials and innovative applications but will also provide support to investors in setting up manufacturing units in the plastic and polymer sectors," said the Chief Minister.

He said it should emerge as one of the centres of excellence in the field of polymer applications.

Pradhan said it will help in creation of polymer-based industrial clusters across Odisha and facilitate several downstream industries.

He said it will facilitate and support the development of polymer industry in Odisha and eastern part of the country.

PADC is also a recognised laboratory of Department of Scientific and Industrial Research (DSIR) under the Ministry of Science and Technology.

It will be working on development of newer grades from Paradip and curtail polymer imports through substitution.

The centre will identify area of development of applications of polymeric material and products for enabling India as self reliant promoting indigenous manufacturing.

The centre would also act as a supporting technical centre for polyester yarns and fabrics for the upcoming textile downstream units in Bhadrak and Dhamra.