Anchor investors suspend proposed investments in PCPIRs amid weak domestic and overseas demand

Investors in the Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs) are opting to put their investments on hold for the time being, mainly due to weak demand, in both domestic and foreign markets. Several investors are in talks with the government for restructuring the PCPIR scheme in the 12th Plan period. Additionally, the Department Of Chemicals and Petrochemicals have cancelled various logistics bids for the newly-floated plastic park scheme due to unavailability of right bids. The Planning Commission has already asked the department for consolidating the schemes for plan allocation. Thus, all schemes are currently under review.
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