Chief Secretary AP Padhi has urged the Government of India to consider providing the necessary budgetary support for the development of external and internal infrastructure in the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Paradip.
Padhi said that as special emphasis is being laid by the State Government for the development of the PCPIR at Paradip by providing the right mix of industrial infrastructure and fiscal incentives, support of the Union Government is needed.
He said that owing to the proactive and progressive governance, the State of Odisha is fast emerging as the manufacturing hub of Eastern India.
Speaking in the India Chem Meet at Mumbai recently, Padhi said that live investment growth, year on year, during 2015-16 and 2016-17 for Odisha was 16.5 per cent, whereas the same stood at 4.6 per cent for India.
The Industrial Policy Resolution 2015 recognises chemicals and petrochemicals as a priority sector and a number of attractive fiscal and non-fiscal incentives for the promotion and development of the sector has been laid out in the policy.
The Odisha Industrial Development Plan 2025 has been developed to broadbase the industrial base of the State by leveraging its strategic advantages of infrastructure, geographic location, abundant natural resources and skilled human resources. Petrochemicals form a keycomponent of this Vision 2025.
Support from the departments of Ministries of Road Transport and Highways, Railways and Shipping for increasing the road and railway connectivity, port capacity and creation of internal waterways in the State would propel the growth of the region.
Besides, the existing policy on PCPIR needs to be revised in consultation with the stakeholders and a comprehensive integrated policy for petroleum, petrochemicals and chemicals must be developed.
This will help the PCPIR to gain momentum and realize the objective for which it was envisaged. IOCL, being the anchor tenant of the Paradip PCPIR, will play a pivotal role in the development of PCPIR.
Padhi said the IOCL is on track to complete the development of projects planned at Paradip- Polypropylene, MEG, Paraxylene-PTA Complex and petcoke gasification, as per schedule and operationalize all of them by 2022-23.
The Government has also developed a plastics park at Paradip which has seen an encouraging response from the investors.
He said that the IOCL has come forward to take equity stake in the project and assured dedicated supply of raw material for the units being set up in the park.