IL&FS has been shortlisted by the Orissa government to prepare a detailed project report for the petroleum, chemicals and petrochemical investment region (PCPIR) in Paradip.
At a high-level meeting, it was decided that the state government would submit an application for the PCPIR. Besides Orissa, Karnataka, Gujarat, Tamil Nadu, Andhra Pradesh and West Bengal want to have such a region. The PCPIR will come up on 2500 acres. The Centre has announced to set up a Rs 20,000-crore mega petrochemical complex in Paradip with a refinery of 15 mln ton capacity.