Calcutta, April 19: Indian Oil Corporation will develop a chemical hub at Haldia.

IOC chairman Sarthak Behuria met Buddhadeb Bhattacharjee at Writers? Buildings today and assured him of all assistance in this regard.

Officials said the move was a compensation for the Haldia port, which is set to lose substantial revenue once IOC starts a pipeline to transport crude oil from Paradeep. ?IOC today said it will start the pipeline in a year. By expanding the Haldia refinery, it will compensate us for the loss of traffic that is bound to happen,? said commerce and industries secretary Sabyasachi Sen. The Centre has already formed a panel to ascertain if Haldia can be turned into a chemical hub.