Orissa likely to get final approval from the Centre for setting up a PCPIR in Paradip

28-May-10

Orissa is likely to get final approval from the Centre at the next meeting with Cabinet Secretary, for setting up the much-awaited petroleum, chemicals and petrochemical investment region (PCPIR) in Paradip soon. The state expects an investment flow of over Rs 2 lakh crore. IndianOil is expected to invest Rs 50,000 crore in the project as an anchor tenant, the state's share of investment is estimated at Rs 1,500 crore besides the share from Centre and the private investors.