The Hindu Business Line : ‘Fears over petrochem investment region, coastal corridor, SEZs unfounded’

There is no basis for the misapprehensions expressed over the petroleum, chemical and petrochemical investment region (PCPIR) coming up between Visakhapatnam and Kakinada and the proposed coastal industrial corridor, as all precautions and anti-pollution measures are being taken, according to Mr B.P. Acharya, Chairman and Managing Director of the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), the nodal agency.

At a business development campaign organised here on Monday by the Andhra Pradesh State Financial Corporation (APSFC), Mr Acharya said the PCPIR, the first to come up in the country, would attract an investment of Rs 3.43 lakh crore, creating 12 lakh new jobs.

“Already we have a committed an investment of Rs 1.63 lakh crore. HPCL and ONGC will be the anchors. Together they will invest Rs 73,000 crore. HPCL, as a member of a consortium with Mittal Energy, GAIL, OIL and Total (France), will invest in a greenfield refinery of 15 million tonnes per annum (mmtpa) in the Andhra Pradesh special economic zone at Atchyuthapuram in Vizag district at a cost of Rs. 32,000 crore.

Capacity expansion

HPCL is doubling its present capacity of 7 mmtpa of Visakha Refinery in the city and ONGC has made its commitment known to set up a 15 mmtpa refinery in the Kakinada special economic zone and also a 4,50,000 mtpa polyprolylene unit at a cost of Rs 31,000 crore,” he said.

The other PCPIR projects would attract Rs 58,552 crore during the next five to ten years and “the Vizag-Kakinada industrial belt would be one of the busiest in the country,” he said.

Notified SEZs

Already, there are five notified SEZs in the region and several more would come up. “All these units will comply with the strictest environmental norms and there is no need to worry that fisheries resources in the coastal belt will be adversely affected. We understand such concerns and all pollution prevention measures will be taken. Sustainable development is our objective,” he said.

Mr Acharya also defended the SEZs and asserted that Andhra Pradesh, with 54 notified SEZs, was in the forefront in the country. “We are headed in the right direction. China’s remarkable economic growth is largely due to SEZs,” he said and refuted the charge that SEZs were being used to promote real estate business.

Ongoing projects

Referring to the other projects in the Visakhapatnam region, he said the Brandix Apparel City project, allotted 1,000 acres by the APIIC in the district, was proceeding not at the desired pace. “Till now, 3,000 jobs have been generated and ultimately the project will give employment to 60,000 persons,” he said.

He said new industrial parks were coming up at Sabbavaram in the district on 1,356 acres and another one on 327 acres at Kantakapally in Vizianagaram district. Health city project (83 acres) was being set up in Vizag city and another IT SEZ at Gambheeram village in Vizag district on 50 acres.

“Work is going on briskly on the two IT SEZs at Rushikonda and we have allotted land for Vizag Innovation Park at Aganampudi for pharmaceutical research,” he said.

Site sought for jute park

The President of the Federation of Andhra Pradesh Industries, Mr B.V. Rama Rao, urged Mr Acharya to allocate 100 acres at Sabbavaram in the district for setting up a park for jute diversified products.

Mr Acharya said there should not be any problem for allotting the site, if there was a committed investment.

Mr P. Ramanarayana, an industrial consultant, wanted to raise a query whether the infrastructure and housing facilities in the Vizag-Kakinada region were sufficient for the scale of investment proposed, but he was not allowed to do so for want of time.

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