Policy on petroleum and chemical zone likely to come in a new avatar

The four PCPIRs are expected to give employment to around 3.4 million people

In an effort to revive the Rs 8.87-trillion investment plan in the chemicals industry, the government will come out with a revised policy on petroleum, chemicals and petrochemical investment regions (PCPIR) in about four months.

Though the PCPIR in Dahej (Gujarat) is operational, others including Vishakhapatnam-Kakinada (Andhra Pradesh), Paradeep (Odisha) and Cuddalore and Nagapattinam (Tamil Nadu) are yet to take final shape. 

The department of chemicals and fertilisers had organised a meeting with industry stakeholders on Monday in this regard and a detailed policy revision is being worked out, possibly giving more autonomy to PCPIRs.

“The industry has given us certain suggestions. Once