Andhra forms spl authority for petrochem region

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Hyderabad, May 26: In a bid to ensure planned growth at the proposed petroleum, chemical and petrochemical investment region (PCPIR) covering 603.58 sq km between Kakinada and Visakhapatnam coast, the Andhra Pradesh government has recently constituted a special development authority for the region. The PCPIR Special Development Authority, as it is called under AP Urban laws, is aimed at achieving orderly growth and environment upgradation in the region, a senior official told FE.

The project, which envisaged about Rs 3,40,000 crore investment in the next 10 years, will have geographical advantages for being in the East Coast having easy approach to high growth countries like Indonesia, Malaysia, Japan etc, he added. Also, the region is already proven as one of the natural gas rich locations of the country.

The official said that the central committee of secretaries on PCPIR is expected to meet soon to recommend about the proposal and the central cabinet has to formally approve the proposal. “It may take about three to six weeks,” official said.

As per the state government order, the Special Development Authority, headquartered at Visakhapatnam, will cover 110 revenue villages in 10 mandals of Visakhapatnam and East Godvari districts. The order also said that the master plan will be prepared immediately by the Visakhapatnam Urban Development Authority (VUDA) in close consultation with the AP Industrial Infrastructure Corporation (APIIC). It will be shortly notified in the extra-ordinary issue of the AP Gazette soon, sources said.

As proposed by APIIC, the PCPIR will have two anchor projects—one led by ONGC consortium proposed to set up a refinery near Kakinada and the other led by the HPCL consortium plans to develop refinery at Achutapuram near Visakhapatnam. Both the projects are progressing as per the schedule and have already identified the land, while HPCL consortium had already obtained 1,500 acres at the AP Multi Product SEZ, officials said. Besides, the major industrial houses like Hindujas, Essar and others have evinced their interest to participate in the project, once it is formally been approved by the government of India, official sources said.