The Government of India has planned to make Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) policy more attractive.
“The Ministry of Chemical and Petrochemicals will soon convene a meeting with the Ministry of Petroleum to discuss about the desirable changes required to make the policy more attractive. Then the proposal would seek Cabinet nod, according to Chemical and Petrochemical Secretary P Raghavendra Rao.
Attending an industry meeting organised by the FICCI Odisha chapter, Rao said, “16 per cent of the chemical and petrochemical industry is in eastern part of the country. But per capita consumption is very low. Odisha is the only state which has advantage of both PCPIR unit and Plastic Park.
It will provide much needed support for the development of this sector in Eastern part of the country.”
Industries Secretary Sanjeev Chopra said Paradip would emerge as a most sought-after industrial zone of the country in the coming 10-15 years. “It has Paradip Port for major cargo handling. In nest three-four years, doubling of Railway line will help faster movement of goods. It has advantage of Gas Pipeline, proposed Paradip-Dhamara waterway and East Coast Economic Corridor. All these facility will make Paradeep most attractive of investors,” he opined”
Stating that the State Government is subsidising this sector in every possible way, Chopra said the PCPIP project of Paradip would be completed within next two months. Polypropylene project would come up by end of this financial year.