Govt charting norms for petro, petrochem projects

The Centre is chalking out the guidelines for the Petroleum and Petrochemical Investment Region  (PPCIR) projects that have got in-principle government approval and are expected to attract huge investments, Minister of State for Industry Ashwani Kumar said today.

The Centre is actively involved in pushing through the PPCIR projects which would be spread over an area of 200-300 sq km each Kumar told reporters.
 
"The PPCIR has received an in-principle approval from the Cabinet. Once the policy is notified, it will lead to mega investments through the PPP (public-private-partnership) mode in the coastal states," Kumar said, adding at present, inter- ministerial consultations were on  and rules are to be framed.

"PPCIR will be replicated in a total of five coastal states, including Orissa, Gujarat, Andhra Pradesh and West Bengal. Indian Oil will be the anchor tenant in Paradip (Orissa), ONGC in Vizag (Andhra Pradesh) and Reliance Industries in Jamnagar (Gujarat)," Kumar said.

Regarding Delhi-Mumbai Industrial Corridor (DMIC), the minister said  the Government is committed to complete this project, which is expected to  cost about Rs 4,00,000 crore.

"The government will be investing in a slew of mega infrastructure projects. The Delhi-Mumbai Industrial Corridor has an investment of Rs 4-lakh-crore earmarked for it and the Maritime Development Fund, Rs 1,00,000-crore," he said, adding that the DMIC will create hubs of vibrant industrialisation cutting across several states.