Failure to attract investments compels Andhra Pradesh government to shelve petrochem project

10-Mar-17

The Andhra Pradesh government has shelved a petrochemical investment project planned about 10 years back, which was to come up between Visakhapatnam and Kakinada, as it failed to attract any investment, as per PTI. A 140-km industrial corridor between Visakhapatnam and Kakinada was also part of the plan. "The Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) project is a closed chapter now. No investment has come in so far and nothing is expected. We don't even have a plan for it," a top official said.