28 September 2007 17:36 [Source: ICIS news]
NEW DELHI (ICIS news)--The competition among Indian states to set up Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) is gaining momentum, a central government official said on Friday.
The official said that the state governments of Andhra Pradesh (AP), ?xml:namespace>
He said the central government would process these project proposals for approval by high-powered committee (HPC) of secretaries and later by the Cabinet under PCPIR policy that was announced in March.
He declined to indicate any timeframe within which the approvals would be given.
The official said three more states –
The AP government had proposed the creation of PCPIR in Vishakhapatnam-Kakinada-Rajahmundry corridor where the availability of both liquid feedstock and gas feedstock would increase significantly over the next few years.
Karnataka had proposed to set up PCPIR in Dakshin Kannada district where too liquid and gas feedstock availability is slated for substantial improvement. Similar is the case with Bharuch district of Gujarat where the third PCPIR is to be located.
The minister for chemicals and fertilizers, Ram Vilas Paswan said each PCPIR would be spread over 250 square kilometres territory in which refineries, petrochemical complexes and downstream units would be set up to cater to both domestic and export markets.
These territories were expected to have plastic parks where polymer processors would set up their units.
He said the central government would invest Indian Rupees (Rs)40bn-60bn on creation of transport linkages for each PCPIR.
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