‘IOC anchor investor for PCIR’
The West Bengal cabinet on Wednesday approved Indian Oil Corporation (IOC) as anchor investor for the proposed petroleum, chemicals and petrochemicals investment region (PCPIR) to be set up near Haldia.
By TNN |
KOLKATA: The West Bengal cabinet on Wednesday approved Indian Oil Corporation (IOC) as anchor investor for the proposed petroleum, chemicals and petrochemicals investment region (PCPIR) to be set up near Haldia.
Mr Nirupam Sen, the state commerce and industry minister, told newspersons at Writers’ Buildings: “The cabinet sub-committee on industry approved IOC as this today. IOC had earlier expressed willingness to be the anchor investor. The quantum of investment for the PCPIR is currently being worked out.”
IOC chairman, Mr Sarthak Behuria who was in the city on Wednesday to attend the AGM of IOC subsidiary IBP Co. clarified: “We have agreed in-priniciple to be an anchor investor in the proposed chemicals hub at Haldia. However, at this stage we have no concrete proposal before us. A host of issues, including the other downstream units, will have to be considered and a detailed feasibility study done before we can formalise any plan. Only then can it be taken to the company’s board for approval,” he added.
“For all practical purposes IOC is a mother investor in Haldia. We would be supplying the main feedtsock and naptha for the units. We are also investing Rs 5,000 crore to expand our refinery at Haldia to 7.5 million tonne per annum and also a set up a paraxylene plant,” Mr Behuria said.
The state government has formed a steering committee headed by state chief secretary, Mr Amit Kiran Deb to facilitate project development.
The proposed PCPIR will be spread over an area of 10,000 acres. The government is in the process of identifying the land. Nearly 71% of the land that will be acquired by the state government for the proposed PCPIR is into monocrop cultivation, commerce and industry officials informed.
The Union ministry of chemicals and fertilisers has engaged the New-Delhi-based consultant, Dalal Mott MacDonald (DMM), to prepare a masterplan for the PCPIR. According to Mr Sen, DMM would take at least six months to prepare the masterplan.
The state government has planned to include the PCPIR as part of a bigger Haldia special economic zone (SEZ). While Reliance Industries has evinced interest to participate in the PCPIR, Indonesia-based Salim Group has decided to participate in the SEZ.
Mr Nirupam Sen, the state commerce and industry minister, told newspersons at Writers’ Buildings: “The cabinet sub-committee on industry approved IOC as this today. IOC had earlier expressed willingness to be the anchor investor. The quantum of investment for the PCPIR is currently being worked out.”
IOC chairman, Mr Sarthak Behuria who was in the city on Wednesday to attend the AGM of IOC subsidiary IBP Co. clarified: “We have agreed in-priniciple to be an anchor investor in the proposed chemicals hub at Haldia. However, at this stage we have no concrete proposal before us. A host of issues, including the other downstream units, will have to be considered and a detailed feasibility study done before we can formalise any plan. Only then can it be taken to the company’s board for approval,” he added.
“For all practical purposes IOC is a mother investor in Haldia. We would be supplying the main feedtsock and naptha for the units. We are also investing Rs 5,000 crore to expand our refinery at Haldia to 7.5 million tonne per annum and also a set up a paraxylene plant,” Mr Behuria said.
The state government has formed a steering committee headed by state chief secretary, Mr Amit Kiran Deb to facilitate project development.
The proposed PCPIR will be spread over an area of 10,000 acres. The government is in the process of identifying the land. Nearly 71% of the land that will be acquired by the state government for the proposed PCPIR is into monocrop cultivation, commerce and industry officials informed.
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The Union ministry of chemicals and fertilisers has engaged the New-Delhi-based consultant, Dalal Mott MacDonald (DMM), to prepare a masterplan for the PCPIR. According to Mr Sen, DMM would take at least six months to prepare the masterplan.
The state government has planned to include the PCPIR as part of a bigger Haldia special economic zone (SEZ). While Reliance Industries has evinced interest to participate in the PCPIR, Indonesia-based Salim Group has decided to participate in the SEZ.
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