In a major move to boost investment in the Petrochemical Sector the government came up with the National Policy on Petrochemicals and the Petroleum, Chemical and Petrochemical Investment Regions.
PCPIR Policy:
The Petroleum, Chemical and Petrochemical Investment Regions (PCPIR) policy released on 8th May, 2007 envisages establishment of investment regions with world-class infrastructure with both center and states playing key roles.
The Government of India will ensure availability of external physical infrastructure including rail, national highways, ports, airports and telecommunication facilities in a time bound manner through public-private partnership.
The State Governments will be responsible for providing all physical infrastructure and utilities linkages like power, water, sewerage, health, safety and environmental concerns. It will give a thrust to industrialization in the regions by way of setting up of down-stream units.
The PCPIR an investment region of 250 sq. kms is expected to have 40% area designated as processing area having manufacturing facilities for domestic and export led production of petroleum, associated logistics and other services & infrastructures and 60% area designated as non-processing area having commercial and other social & institutional infrastructure.
Investment in the external infrastructure in each of the PCPIRs would be about Rs.8,000 crore to Rs.14,000 crore.
So far four proposals from the States of Andhra Pradesh, Karnataka, Gujarat and West Bengal have been received for hosting PCPIRs.
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Press Information Bureau Government of India
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