The Paradip Petro Chemicals and Petroleum Investment Region (PCPIR) will soon be placed before the Cabinet Committee on Economic Affairs (CCEA) as the Union Cabinet secretary on Friday cleared the project proposal.
The PCPIR, which will be spread over an area of 250 sq km centreing the port town of Paradip is expected to attract Rs 2.80 lakh crore. The Indian Oil Corporation?s (IOC) proposed 15 million tonne oil refinery at Paradip will be the anchor tenant for the PCPIR.
A high-level meeting chaired by Union Cabinet secretary, KM Chandrashekar, was held in New Delhi on Friday. The meeting was attended by senior officials of 15 Union ministries.
The Orissa?s additional development commissioner, RN Senapati, along with industry secretary, Sourav Garg, IDCO chairman, Priyabrata Patnaik, presented the Paradip PCPIR proposal before Chandrashekar.
?The state government is expecting that the PCPIR would attract a total of Rs 2,79,375 crore,? said the state industries minister, Raghunath Mohanty. He added that the project would create direct employment opportunities for 1,90,000 persons and indirect employment for 6,10,000 lakh persons.
He said that the land acquisition for the project has already started and the phase ?I project will be completed by 2020.
The Union minister of state for chemical and fertilizer, Srikant Jena, said, ?The PCPIR project will change the face of Orissa.” Jena, who hails from Orissa, added that the project will emerge as one of the most economical viable projects of the eastern region.
The PCPIR project in the state will be the fourth project in the country after West Bengal, Andhra Pradesh and Gujarat.The central government will provide rail connectivity, highway network and airports while the state government will provide the basic infrastructure, including power and water supply, said IDCO chairman, Priyabrata Patnaik.