The Tamil Nadu government has sent a revised proposal for establishing a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Cuddalore and Nagapattinam districts.
According to the state industries department’s policy note, which was tabled by P Thangamani, minister for industries, Tamil Nadu government, the revised and final proposal for establishing the PCPIR was sent to the department of chemicals and petrochemicals on January 18.
The total investment for external linkage roads and other infrastructure augmentation and utilities projects for the PCPIR has been estimated at Rs 13,354 crore. Over a period of 10 years, investments of around Rs 92,160 crore will be mobilised in this PCPIR. The total employment generation expected during this period is estimated at about 7,50,000, the state government said in the policy note.
It may be noted that Nagarjuna Oil Corporation Limited (NOCL) is setting up a petroleum refinery project in Cuddalore, which will be the first refinery project in the PCPIR.
The petroleum refinery project of NOCL, with a six-million tonne-a-year capacity, is a joint venture between state-run Tamil Nadu Industrial Development Corporation (TIDCO) and Nagarjuna Fertilisers Limited.
The project, coming up at Thiruchopuram in Cuddalore taluk, will be commissioned in the current year. The total investment in this project is estimated to be about Rs 9,660 crore, including those investments made in associate facilities.
NOCL will take up its expansion project in 2014, which will be completed by 2016. By 2014, the refining capacity of NOCL will be increased from six to 15 million tonne per year. The additional investment for this expansion project is estimated at about Rs12,000 crore, the policy note said.