Govt plans to spend Rs. 1-lakh cr for Madhya Pradesh PCPIR.

Adding to the already approved list of four petroleum, chemicals and petrochemical investment regions (PCPIRs) is the new PCPIR in Bina, Madhya Pradesh. The government anticipates an investment of Rs 1 lakh crore to set up the new PCPIR which will be located near Bina refinery.

Launched in March 2007, PCPIR policy was envisaged to promote integrated manufacturing location for refinery, petrochemical crackers, and other downstream industries. The government till date has approved four PCPIRs – Dahej (Gujarat), Paradip (Odisha), Vishakhapatnam-Kakinada (Andhra Pradesh) and Cuddalore-Nagapattinam (Tamil Nadu). While the construction work at Dahej and Paradip has already started, the other two PCPIRs are still to take off. In fact, the Narendra Modi-led Government recently constituted steering committees to fasten the process and monitor the progress of these PCPIRs.

Speaking during the Madhya Pradesh Global Investors Summit on October 10, 2014, Ananth Kumar, Union Minister of Chemical and Fertilizers, said, “A new PCPIR will be set up near Bina refinery, which will be expanded to 15 million tonnes (MT) from 6 MT by BPCL.”

During his visit to India Chem 2014 event in Mumbai a day before, Ananth Kumar had informed that state governments of Madhya Pradesh, Karnataka and Rajasthan have approached his ministry with a proposal for setting up special investment zones for petroleum and petrochemicals in their respective states. He said that the centre will extend necessary support to all state governments for their proposals.

BS