Govt to set up PCPIRs

The Government of India has approved setting up four Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIRs) in the states of Andhra Pradesh (Vishakhapatnam – Kakinada), Gujarat (Dahej), Odisha (Paradeep) and Tamil Nadu (Cuddalore – Nagapattinam) which are estimated to attract investments of around Rs 7.63 lakh crore and provide employment to around 33.96 lakh people. These PCPIRs are at different stages of implementation. PCPIRs are the projects with long gestation period and may take around 15-20 years to achieve full potential. As on January, 31, 2015, investment of approximately Rs 1.60 lakh crore have been made and direct & indirect employment for approximately 2.23 lakh people has been generated. The PCPIR projects are already functional and realization of full potential is a gradual process. The Government has set up Steering Committees for monitoring the implementation of PCPIRs in various states. The PCPIRs have been promoted in domestic and international forum.