The total revenue of chemical-based industries, which include sectors like pharmaceutical, paints, fertiliser and petrochemical, in the eastern region is estimated to increase by two and half times, according to DP Misra, director general of the Indian Chemical Council.
“East’s contribution to the countries total revenue of $150 billion in the chemical related industries is around $8-10 billion. In next five years, we think it should be anything between $20-25 billion,” said Misra.
Misra was present at a seminar organised by the council on Wednesday in Kolkata on opportunities for investment in the chemical industry in the eastern region.
The two PCPIRs (petroleum, chemical and petrochemical investment region) slated to be set up in Paradip (Orissa) and Haldia ( West Bengal ) will help to increase chemical industry’s footprint in the east, Misra said.
The Paradip PCPIR will be ready by 2011, but there is uncertainty over Haldia, as the chemical hub, one of the components of the PCPIR, coming up in the Nayachar Island on the Haldi River , is still waiting for central government’s environment approval.
One of the positive developments in the eastern region in recent times has been the estimation of availability of natural gas in Tripura.
Jitendra Chaudhury, Tripura industries & commerce minister, said the estimated gas reserve in Tripura is 52 bcm (billion cubic metre) as against 40 bcm in the KG basin.
DP Ghosh, Indian Chemical Council chairman (eastern region) said once gas production starts, Tripura and the northeast will have hosts of allied chemical industries.
