A high-level team from the Centre will visit Orissa soon to inspect the site selected by the state government for the proposed Petroleum, Chemicals and Petro-Chemical Investment Region (PCPIR) near Paradip.
“A high-level Central delegation will visit the site chosen for the PCPIR next month. The Centre has taken initiative for development of PCPIRs to create infrastructure, promote research and development and attract private investment in chemicals and petrochemicals sectors”, Union minister of state for fertilizers and chemicals Srikant Jena said.
The Orissa government has identified land near Paradip in Jagatsinghpur district for the PCPIR project.
The project envisages massive Rs 1, 00, 000 crore investment. While the Centre would spend Rs 40,000 crore, the private sector investment is pegged at about Rs 60,000 crore.
The PCPIR project, however, does not include the oil refinery being set up by the Indian Oil Corporation (IOC) at Paradip at an investment of around Rs 35,000 crore, the minister stated.
Jena was here to attend the annual function of the students’ union of Khallikote Autonomous College.
Paradip is one of the six sites identified by the Central government across the country for the development of the PCPIRs. The other sites are Haladia-Nayachar in West Bengal, Deheja in Gujarat, Visakhapatnam in Andhra Pradesh, Mangalore in Karnataka and Cuddalore-Nagapattam in Tamil Nadu.
While the Union Cabinet has already approved three PCPIRs in Visakhapatnam, Deheja and Haladia, the proposal of Paradip PCPIR is likely to be placed for Cabinet approval after the official team visits the site. The high power committee of the Centre has already approved the project site.