Proposal for PCPIR in Gujarat with Rs 50k crore investment commitment nears clearance

29-May-08

Chemicals and fertilizers minister has confirmed that a proposal for PCPIR in Gujarat with a Rs 50,000 crore investment commitment from private investors as well as central and state governments is on the verge of getting be cleared by a panel headed by Cabinet secretary. Upon approval, the state government will notify 473 sq km as PCPIR. The central and state governments will invest Rs 18,691 crore to build infrastructure like ports, rail network and roads. This investment hub with an oil refining and petrochemical complex as the anchor project, with various downstream units in pharmaceuticals, chemicals and petrochemicals sectors, creating 8,00,000 jobs.