Even as it awaits the in-principle approval for its PCPIR from the Centre, the Orissa government plans to invest Rs 1796 crore on infrastructure development of the proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) hub in Paradip. Most of the infrastructure projects will be taken up in public-private-partnership (PPP) mode.
The state expects to complete the Phase-I work of the project by 2015, and commission the entire project by 2030. Indian Oil Corporation Limited (IOC) has agreed to be the anchor tenant for the project.
Orissa will be the fourth state in India after Andhra Pradesh, Gujarat and West Bengal, to receive the approval for a PCPIR. After a requisition of improvement in the initial proposal submitted by the state to the Centre, modified proposal has been sent to the Union government in August, 2009.