Published On:February 4 2009
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Centre gives approval for Nayachar chem hub
Kolkatta The proposed chemical hub at Nayachar in West Bengal was cleared by the Centre’s High Powered Committee.
Commerce and industry secretary, West Bengal, Sabyasachi Sen said that the proposal would now go to the cabinet for approval. The cabinet approval is the final step.
Last February, the West Bengal government gave permissible possession to PCR Chemicals, a joint venture between and NKID and the West Bengal Industrial Development Corporation (WBIDC), of Nayachar. NKID is a special purpose vehicle, promoted by the Salim group of Indonesia, Universal Success group and Unitech. NKID has a 51 per cent stake in PCR Chemicals while the balance is with WBIDC.
The feasibility study of the project was being done by the joint venture company and Singapore-based Jurong Town Corporation had been roped in as consultants.
Nayachar would be the processing area for the Petroleum, Chemicals and Petroleum Investment Region (PCPIR), which was spread over 54 square km. Even after connecting Haldia to make it a part of the PCPIR, the areas was short of the stipulated norms of PCPIR. The total region would have to be 250 square km and 40 per cent would be dedicated for processing. The PCPIR project was delayed since the site had to be shifted from Nandigram, after a huge resistance from land losers, which claimed several lives.
The government was banking heavily on the PCPIR to revive its industrialization programme.