Proposal for setting up PCPIR near Cuddalore expected by end of month

10-Feb-12

The Ministry of Chemicals and Fertilisers will present a proposal to the cabinet for approval, for setting up a Petroleum, Chemicals and Petrochemicals Investment Region near Cuddalore in two weeks. The PCPIR will entail infrastructure spending of Rs 16,725 crores. After the Cabinet approves it, Government of India would sanction the project, whereupon various agencies from the central and state governments would swing into action. The only operational PCPIR in India is in Gujarat. The Centre has given its sanction to PCPIRs in three other States - Haldia (West Bengal), Paradeep (Orissa) and Visakhapatnam (Andhra Pradesh). Tamil Nadu's proposal is under consideration. Spread over a 250 sq. km area around Cuddalore, the project will become a chemical and petrochemical hub.