India invites German investment in chemical and petrochemical sector

08-Jul-10
India has invited German investment in the fast growing chemical and petrochemical sector in India. Shri Srikant Kumar Jena, Minister of State for Chemicals & Fertilizers, who was on a three day visit to Germany, extended the invitation during a meeting with Mr. Jochen Homann, State Secretary, Federal Ministry of Economics & Technology. Shri Jena spoke about the upcoming opportunities in Chemical and Petrochemical sector in India and the commitment of Government to provide world class infrastructure for its growth in the PCPIR regions. He mentioned about the already functional PCPIR at Dahej and the new upcoming PCPIRs at Haldia, West Bengal, Andhra Pradesh and Paradeep in Orissa. The Minister talked about the attractiveness of East Coast region of India particularly Orissa as an investment destination for German companies. The proposal for a PCPIR in Paradeep of Orissa is under the process of approval by Govt. of India. He also mentioned that within the proposed PCPIR, there could be SEZs, Plastic Parks, Growth Centres, etc., which would provide investment opportunities in the entire value chain of petrochemicals. The delegation also visited BASF’s chemical plant at Schwarheide Chemical Complex in Brandenburg State of Germany. During the meeting, the Joint Secretary Ms. Neel Kamal Darbari spoke about PCPIR policies of Government of India and invited investment from BASF into the PCIPR being set up/under consideration in Gujarat, Andhra Pradesh, West Bengal and Orissa. Addressing a meeting organised by Federation of German Chemical Industry (VCI) to promote PCPIR policy Shri Jena spoke about the upcoming opportunities in Chemical and Petrochemical sector in India and the commitment of Government to provide world class infrastructure for its growth in the PCPIR regions. The delegation included Joint Secretary, Department of Chemicals & Petrochemicals Ms. Neel Kamal Darbari, MD-GIDC Shri Arvind Agarwal, DG, CIPET Dr. S.K. Nayak, Advisor FICCI Shri Rajan Kohli and representatives of chemical industry.
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