Union Govt to approve four PCPIR projects by year-end

Vadodara, Aug 7 (UNI) At least four proposals for setting up of Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIR) in different coastal states in India are likely to get the Union Government's approval by this year-end.

Talking to newsmen on the sidelines of an Industry Meet organised by the Federation of Indian Chambers of Commerce and Industry (IFCCI) here today, chemicals and petro-chemicals secretary, V S Sampath, said the response to the ambitious PCPIR policy formulated by the government last year to attract major investments in this sector had been very encouraging.

So far six state governments, including Gujarat, Andhra Pradesh, Karnataka, Tamil Nadu, Orissa and West Bengal had submitted their proposals for establishing such integrated chemical regions in their coastal belt, he said and hinted that at least four such proposals, including that of Gujarat, were expected to get the Centre's clearance by the end of 2008.

With PCPIR materialising on schedule, Mr Sampath said India would emerge as a leading player in the chemical and petrochemical field in the world.

He said Gujarat, which had taken a lead in chemical and petrochemical production in the country, had already created necessary infrastructure and utility linkages at its proposed PCPIR project site at Dahej.

Hoping that creation of such integrated chemical regions would make the country an important chemical hub for both domestic and international markets, Mr Sampath said the PCPIR policy would promote global scale investments in this sector and help accelerate India's economic growth.

Mr Sampath said the country was eagerly looking for the 'India Chem-2008' event for chemicals, petrochemicals, pharmaceuticals and machinery equipment sectors, to be held in Mumbai from October 20.

The event would witness participation of more than 350 international exhibitors and renowned speakers from all over the world, he added.

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