Paswan reviews status of new PCPIR Policy

New Delhi, July 12 (UNI) Minister for Chemicals, Fertilisers and Steel Ram Vilas Paswan today reviewed the status of new Petroleum Chemical and Petrochemical Investment Regions (PCPIRs) Policy in a meeting with the senior officials.

During the discussion, it was indicated that several States have shown interest in establishing PCPIRs.

Andhra Pradesh has submitted its application proposing to establish the PCPIR in Visakhapatnam-Kakinada- Rajamundhri.

Karnataka, Gujarat, Orissa, Tamil Nadu and West Bengal have indicated that they were preparing proposals for submission to the Department of Chemicals&Petrochemicals.

The State Governments have given the details of their status of preparation in a meeting taken by Secretary (C&PC) recently. They have also indicated that they would submit their application within the next three months.

Mr Paswan had released the Policy on PCPIRs on May 8, 2007 in a meeting attended by the State Governments, Industry representatives, representatives from international developers and some prospective investors.

Earlier, the CCEA in its meeting held on April 4, 2007 had approved the Policy Resolution for Promotion of Petroleum, Chemicals and Petrochemical Investment Regions. Envisaged to be investment regions with excellent infrastructure, PCPIRs would provide conducive and competitive environment for setting up businesses, specifically for the Petroleum, Chemicals and Petrochemical sectors.

This integrated Petroleum, Chemical&Petrochemical complex would reap the benefits of costing, networking and greater efficiency through use of common infrastructure and support services. Such a complex would boost manufacturing, augment exports and generate employment.

The states were also informed that there would be a pre-scrutiny mechanism and the department would intimate the date for same to the State Government ordinarily within 15 days of receipt of application.

The states have also agreed to share information with each other for possible adoption and guidance.

UNI