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Our Bureau

Hyderabad, July 11 The Union Government could give clearance for creation of two or three Petroleum, Chemicals and Petrochemical Investment Regions (PCPIRs) by the end of the current financial year.

According to Mr V.S. Sampath, Secretary, Department of Chemicals and Petrochemicals, Government of India, so far six proposals have been received from various State Governments for setting up such regions.

“Andhra Pradesh, Gujarat, Karnataka, West Bengal, Orissa, and now Tamil Nadu Governments have approached the Central Government seeking permission for setting up PCPIRs in their States,” he said while talking to the media on the sidelines of an industry meet of India-Chem 2008.

Mr Sampath added that the proposal from the Andhra Pradesh Government was in its last mile and most of the issues were sorted out and only two or three issues were left to be resolved, which would be done in the next meeting.

On the other hand, the proposal of Gujarat is ready and is likely to be sent to a high-power committee headed by the Cabinet Secretary. “The application received from Karnataka is also ready, while that from West Bengal is nearly ready. The proposal from Orissa is ready but has not yet come to us and the application from Tamil Nadu Government is in its initial stage,” he said.

Mr Sampath hinted that since Andhra Pradesh was one of the first States to approach the Department it could be among the ones that could receive the nod this year. He, however, did not divulge the names of the other States that could get clearance.

According to estimates, the petrochemical investment regions in Andhra Pradesh would attract investments to the tune of Rs 3.43 lakh crore, while investments worth Rs 50,000 crore have been committed in Gujarat. Karnataka could attract investments to the tune of Rs 2.3 lakh crore, West Bengal Rs 75,000-80,000 crore, Orissa around Rs 2.75 lakh crore and Tamil Nadu could see around Rs 24,000-crore investment.

Mr Sampath said that the Government is looking at creating these regions to overcome or partially offset the handicaps suffered by the chemical industry in the country.

“The first handicap suffered is on the feedstock required. The handicap being faced is on the infrastructure side, though off-late efforts are being made in this regard lot more needs to be done. Another area which makes a significant difference is on power,” he said.

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