Odisha Govt to appoint Jurong Consultants to conduct product profile & feasibility study for Paradeep PCPIR

17-Aug-13

Odisha government has decided to rope in Singapore-based Jurong Consultants Pte Ltd for doing a product profile and feasibility study on the PCPIR (Petroleum, Chemicals and Petrochemicals Investment Region) proposed at Paradeep. Odisha Project Development Company Limited (OPDCL), a joint venture of Odisha Industrial Infrastructure Development Corporation (Idco) and IL&FS is the programme manager for the project that is expected to pull investments worth Rs 2.74 lakh crore. Idco will also undertake a detailed environment impact assessment (EIA) study for the PCPIR project. The EIA will be done soon after completion of the product profile study of PCPIR. Indian Oil Corporation Ltd (IOCL) is the anchor tenant for the project. Around 3,300 acres of land have been acquired and handed over to IOCL for its 15 mln tpa oil refinery that is set to go on stream by the end of 2013. The anchor tenant has already invested close to Rs 22,000 crore on its refinery project. IOCL has also committed a polypropylene unit by 2016-17 and a polyethylene unit by 2017-18. The state government, meanwhile, is in the process of identifying new anchor tenants interested in setting up petrochemical cracker units within the PCPIR region. IOCL has also signed a memorandum of understanding (MoU) with Dhamra Port Company Ltd (DPCL) for a five million tonne per annum (mtpa) LNG (liquefied natural gas) terminal within the port premises at a cost of Rs 5000 crore. Recently, IOCL entered into a MoU with the Odisha government for development of natural gas infrastructure. The natural gas availability from this terminal is expected to boost downstream industries in the PCPIR region. The first downstream park for plastic industries in the region is being developed by Idco. A special purpose vehicle (SPV) called Paradeep Plastic Park Ltd has been formed for the purpose and 120 acres of land will be allotted to the SPV. The PCPIR project in the state would be set up on 284.15 sq km (70,214 acres) of land spread over Jagatsinghpur and Kendrapara districts. The PCPIR hub is expected to attract investments to the tune of Rs 2.74 lakh crore.