Government enforces PCPIR policy in India

24-Dec-07
The PCPIR is a policy adopted by the Union Government in India to boost investment in the Petrochemical Sector. The PCPIR- a National Policy on Petrochemicals and the Petroleum, Chemical and Petrochemical Investment Regions, released in May 2007, envisages establishment of investment regions with world-class infrastructure with both center and states playing key roles. The government will ensure availability of external physical infrastructure including rail, national highways, ports, airports and telecommunication facilities in a time bound manner through public-private partnership. The state governments will be responsible for providing all physical infrastructure and utilities linkages like power, water, sewerage, health, safety and environmental concerns. So far four proposals from the States of Andhra Pradesh, Karnataka, Gujarat and West Bengal have been received for hosting PCPIRs. The PCPIR an investment region of 250 sq. kms is expected to have 40% area designated as processing area having manufacturing facilities for domestic and export led production of petroleum, associated logistics and other services & infrastructures and 60% area designated as non-processing area having commercial and other social & institutional infrastructure. Investment in the external infrastructure in each of the PCPIRs would be about Rs 80 billion to Rs 140 billion. The `National Policy on Petrochemicals` was released in Sep 2007. The Policy resolution aims to increase investments in the sector, capture a slice of resurgent Asian demand in polymers, creating quality infrastructure to ensure value addition, increase exports, increase the domestic demand and consumption of plastics and synthetic fibers. National Policy on Petrochemicals envisages an investment of Rs 360 billion in the next five years.
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