Bhubaneswar: BJD MP from Kendrapara Baijayant Panda today discussed the progress of the Petroleum Chemicals and Petrochemicals Investment Region (PCPIR) project with Union Chemicals and Fertilizers minister Anant Kumar.
According to the departmental joint secretary who was present in the meeting, the project will be completed by 2017.
Panda urged the minister to bring changes to the viability gap funding (VGF) and to include the intra-PCPIR projects within the policy ambit. Kumar has assured that the recommendations will be accepted and directed the concerned departments to look into the suggested changes.
Notably, the PCPIR project got the Central government’s nod in 2010 in which Panda played a key role. On November 3, 2013, an agreement was signed with the Odisha government. The Odisha Industrial Infrastructure Development Corporation (Idco) has been entrusted with the responsibility of acquiring land for the first phase of project.
According to sources, the agency is stipulated to acquire 47% of the total required land for the first phase. A total of 3,120 acre of land has been acquired by Idco and transferred to Indian Oil Corporation Limited (IOCL) for setting up its refinery.
Moreover, acquisition of another 1,200 acre of land by idco is in its final stage. Similarly, Idco has acquired 7,342 acre of land in Marshaghai and Mahakalpara blocks of Kendrapara district.
With the objective to promote investment in petroleum, chemicals and petrochemicals segment, the Chemicals and Petrochemicals department had formulated the policy to set up PCPIRs in different parts of the country.
It is expected that PCPIRs would reap the benefits of co-siting, networking and greater efficiency through the use of common infrastructure and support services. It would also generate huge job opportunities for people of peripheral areas.