Government of India has approved 4 Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) in the state of Andhra Pradesh (Vishakhapatnam), Gujarat (Dahej), Odisha (Paradeep) and Tamil Nadu (Cuddalore and Naghapattinam) to promote investment and industrial development in these sectors. The PCPIR is envisioned to reap the benefits of co-siting, networking and greater effiencies through use of common infrastructure and support services. Each PCPIR is a specifically delineated region having an area of about 250 sq. km. wherein 40% of the area has to be for processing activities.
The State Government carry out Environment Impact Assessment (EIA) and lead the project implementation. Government of India is ensuring infrastructure development in the PCPIRs through highways, rail link, ports, airport etc. through Public Private Partnership (PPP) projects to the extent possible.
The PCPIRs have been promoted both at the domestic and international levels along with the State Government, Anchor Tenants and committed investors through industry interactions, road shows, exhibitions, seminars, conference etc.
Once fully established, these PCPIRs are expected to attract investment of Rs. 7,62,894 croces approximately. As on 31.12.2104 investments worth Rs. 70,649 crores approximately have been made in these regions. Infrastructures with investment of Rs. 53,468.7 crore approx. is expected to be created in the PCPIRs, out of which the contribution of Gvernment of India would be 4646.30 crore. The four PCPIRs are expected to generate employment for around 33.96 lakh persons. As on 31.12.2014 around 2.23 lakh persons have been employed in direct and indirect activities related to PCPIRs.
