The Hindu : Andhra Pradesh / Hyderabad News : Nod for PCPIRs before March

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Sunday, Jul 13, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Nod for PCPIRs before March

Special Correspondent

State’s proposal with an investment of Rs. 3.43 lakh crore is in its final stage
Centre’s commitment of Rs. 8,000 crore could be staggered into five to six years

HYDERABAD: The Union Government will accord sanction to two or three Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) before the end of the current fiscal.

Addressing a press conference here on Friday, V.S. Sampath, Secretary, Department of Chemicals and Petrochemicals, Government of India, said: “The proposal from the Andhra Pradesh government with a proposed investment of Rs. 3.43 lakh crore is in its last mile stage.” The remaining issues would be resolved in the next meeting.

He said that the proposal of Gujarat (committed investment of Rs. 50,000 crore) for the PCPIR would be forwarded to the high-powered committee headed by the Cabinet Secretary for consideration.

Other applicants

The application from Karnataka (committed investment of Rs. 2.30 lakh crore) was also ready, while the West Bengal’s application (Rs. 75,000 crore) was nearly ready. Orissa came up with a proposal to set up a PCPIR with a committed investment of Rs. 2.75 lakh crore). Tamil Nadu was the latest entrant.

In the case of Andhra Pradesh, the Union government’s commitment was about Rs. 8,000 crore which could be staggered into five to six years. All departments concerned would be consulted before according the clearance.

Challenges

Listing out the challenges confronting the PCPIRs, the Secretary said high dependence on the import of feedstock, namely crude oil, infrastructure and costly power were some of the major handicaps.

Mr. Sampath also underscored the need for enhancing the per capita consumption of polymers. Addressing IndiaChem-2008 campaign road show, Mr. Sampat suggested to Pharmexcil to work in coordination with Chemexil which was setting up an awareness and facilitation office in Brussels to avoid prohibitive cost of European consultants for promoting exports in Europe.

Principal Secretary of Industries, Andhra Pradesh, B. Sam Bob, CMD of APIIC B.P. Acharya, Pharmexcil president Venkat Jasti, FICCI deputy general secretary Rajan Kohli, and its AP chapter president Narendra Surana also spoke.

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