Team of experts visit site for proposed PCPIR at Nayachar Island to conduct feasibility study

26-Feb-08
A six-member team of experts has visited the site for the proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Nayachar Island in East Midnapore district. The team went across the 12,000-13,000 acres of land and interacted with local people, mostly fishermen. Besides looking into the feasibility of a chemical hub in the island, the threat of displacement of fishermen living in the area and any fear about the threat to ecology were also taken note of by the team members. The team will submit a report to the government at a later stage in this regard. The 54 sq. km. land at Nayachar had been handed over to A P C Roy Chemicals Pvt Ltd, a joint venture company floated by the West Bengal Industrial Development Corporation (WBIDC) and New Kolkata International Development (NKID), a SPV promoted by Salim group of Indonesia, Unitech of Delhi and Universal Success. WBIDC holds 49% stake in the company, while NKID will hold 51% stake in the JV.
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