Macro Economy

Petrochem hub policy will be made more attractive, says official

Our Bureau Visakhapatnam | Updated on August 13, 2018 Published on August 13, 2018

Vizag-Kakinada region has huge potential due to good connectivity

The Centre plans to revise and make more attractive the petroleum, chemicals and petro-chemicals industrial region (PCPIR) policy with the involvement of all stakeholders, according to Union Secretary of the Department of Chemicals and Petrochemicals P. Raghavendra Rao.

He was speaking at India Chem 2018 – Industry Meet organised by FICCI with the support of AP Chambers of Commerce and Industry Federation here on Monday. Chemicals have become all-pervasive and their contribution to the economy is significant, he said, adding the potential and investment opportunities in Andhra Pradesh, especially VK (Visakhapatnam-Kakinada) PCPIR region were very good due good connectivity by rail, road, sea and air ports to all places in the hinterland.

He further said the Department of Chemicals and Petrochemicals will organise the India Chem-2018 and the 10th biennial international exhibition and conference in Mumbai during October 4-6. The event would showcase opportunities and Government initiatives for sustained growth in the sector and provide a platform for investors, both domestic and international, and other stakeholders. Welcoming the delegates, M Sudhir, Vice-Chairman, AP Chambers of Commerce and Industry Federation, said chemical industry in India was diversified and was the mainstay of industrial and agricultural development of the country.

Giving a presentation on the potential and investment opportunities in the VK PCPIR, Vice-Chairman of Visakhapatnam Urban Development Authority (VUDA) P. Basanth Kumar, said VUDA was hand-holding the PCPIR project and sufficient land was available for the potential investors in the anchor units in this region. Six SEZs are operating in the PCPIR region and the State government is providing all infrastructural facilities with external linkages supported by the Centre, he added.

Published on August 13, 2018
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