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Our Bureau

Mumbai, Nov. 9

"The new Petroleum, Chemical, Petrochemical Investment Region (PCPIR) policy is likely to be finalised within a week," Mr G.S. Sandhu, Joint Secretary, Department of Chemicals and Petrochemicals, said on Wednesday. "The major bottleneck in catalysing investment in these sectors has been the lack of infrastructure. The idea behind PCPIR is for the Government to provide infrastructure support to the industry. This will help to attract significant foreign investments," he added.

Mr Sandhu was speaking at the IndiaChem 2006 conference, an exhibition and conference on chemicals, petrochemicals, pharmaceuticals, biotechnology, process plant machinery and control and automation systems. The performance of the country's chemical sector, which is the twelfth largest in the world accounts for 14 per cent of the country's total exports.

Dr C. Fernandez, Additional Secretary & DGAD, Department of Commerce, wanted the industry to suggest changes in the existing policy so that the Government could take these into account while formulating the 11th Five Year Plan.

More Stories on : Infrastructure | Policy | Petroleum | Petrochemicals | Chemicals

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