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Saturday, February 20, 2010

Centre seeks support from Orissa for Paradip Petroleum, Chemicals, and Petro-chemcials Investment Region (PCPIR) project, CIPET at Balasore

Source:The Financial Express,Bhubaneswar:

The Union chemical and petro-chemical secretary, Bijoy Chatterjee, on Firday met the Orissa chief minister, Naveen Patnaik, and discussed about the Petroleum, Chemicals, and Petro-chemcials Investment Region (PCPIR) project in the state.

The state-owned Industrial Infrastructrue Development Corporation (IDCO) chairman-cum-managing director, Priyabrata Patnaik, told reporters that the Union secretary urged the state government to provide land, water linkage and power supply besides other required infrastructrue for the project.

Patnaik said that the Union secretary also said the Centre is willing to set up a branch of the CIPET (Cental Institute of Plastic Engineering Tehncology) at Balasore in the state. For the institute, the state government has agreed to provide 15 acres of land, he disclosed.

The PCPIR project, which is going to spread over an area of 250 square kilometers at Paradip with the Indian Oil Corporation's (IOC) oil refinery as anchor tenant, is expected to attract investment to the tune of Rs 2,75,000 crore.

The major chunk of investment, about Rs 23,000 crore, will come in petroleum and petro-chemical sector.

The project will generate employment opportunity for more than 2 lakh people when it is fully commissioned.

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