Country's first petrochemical investment region coming up

Wednesday, 28 May 2008, 13:09 Hrs
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New Delhi: India will soon have its first petroleum, chemical and petrochemical investment region (PCPIR) operational near Vizag in Andhra Pradesh, Ram Vilas Paswan, minister for chemicals and fertilisers, said here Tuesday.

"PCPIR in Andhra Pradesh is at an advanced stage. It is being looked into by a high-powered committee, and will shortly start development works," said Paswan after unveiling the ministry's achievements in the past four years.

PCPIR in Andhra Pradesh will be spread over an area of 250 sq km and generate over 1.2 million direct and indirect employment with total investment of 3.43 trillion.

Paswan said that other PCPIRs would be developed in Karnataka, Gujarat, West Bengal, Orissa and Tamil Nadu, from where his ministry had received proposals.

"The proposals are at an advanced stage," said Paswan, adding that the government would play a proactive role in providing basic connectivity infrastructure but the acquisition of land had to be done by promoters and developers.

"The central government will provide rail connectivity, highway network and airports while the state government would provide the basic infrastructure, including power and water supply," he said.

"A PCPIR is planned at Dahej in Bharuch district of Gujarat with an estimated investment of 500 billion with around 800,000 direct and indirect employment, while the proposed PCPIR at Mangalore in Karnataka will generate over 600,000 employment," said Paswan.

According to V.S. Sampath, secretary, Department of Chemicals and Petrochemicals, the PCPIR in Andhra Pradesh was likely to attract investment from ONGC, HPCL, GAIL, Mittal Energy, Total (France), Bharat Petroleum, Continental Carbon, Baker Hughes, and Biocon.

"Every PCPIR is going to have export competitiveness, and will generate huge infrastructure facilities. It will be a combination of production projects, public utilities, logistics, environmental protection, residential areas and administrative services," said Paswan.

Paswan said the national policy on petrochemicals approved by the government last year would increase investments and competitiveness in the industry and encourage modernisation, research and development.

He said the government had approved the Assam Gas Cracker project at Lepetakata in Dibrugarh. The revival of public sector undertakings like Hindustan Organic Chemicals Ltd. (HOCL), Hindustan Insecticides Ltd., Bengal Chemicals and Pharmaceuticals Ltd, and Hindustan Antibiotics Ltd was also being worked out.
Source: IANS
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