Centre to revamp petrochem policy

BHUBANESWAR: Secretary of Union Chemicals and Petrochemicals Ministry P Raghavendra Rao said the Central Government is planning to make Petroleum, Chemicals and Petrochemicals Industrial Region (PCPIR) policy more attractive.Speaking at a conference on chemicals and petrochemicals industry organised by FICCI Odisha chapter here on Friday, Rao said a meeting with the Ministry of Petroleum and Natural Gas will be convened soon to discuss the desirable changes in the policy.

“Though nearly 16 per cent of the chemicals and petrochemicals industry are in the eastern part of the country, per capita consumption here is very low. Odisha is the only State which has advantage of both PCPIR cluster and Plastic Park. It will provide much needed support for development of the sector in the region,” he said.In order to promote chemicals and petrochemicals sector, FICCI along with the Department of Chemicals and Petrochemicals is organising India Chem-2018 at Mumbai from October 4 to 6. 

The event will showcase opportunities and Government initiatives for sustained growth in the sector and provide a platform for investors, both domestic and international and other stakeholders to interact and forge alliances.Principal Secretary of the State Industries Department Sanjeev Chopra said Odisha Government is also subsidising the sector in every possible way. A Special Purpose Vehicle (SPV) has been planned with Indian Oil with equal equity partnership for the proposed Plastic Park, he said.
Highlighting the advantage of Paradip, Chopra said, it will emerge as a most sought after industrial zone of the country in next 10 years.

While it has a port for major cargo handling besides the dedicated Gas Pipeline, Chopra said doubling of railway line in next few years will help faster movement of goods.The proposed Paradip-Dhamra waterway and East Coast Economic Corridor will make it attractive for investors, he added.Among others, Additional Secretary and Financial Advisor of Chemicals and Fertilisers Department Meenakshi Gupta, Joint Secretary of Petrochemicals Aparna S Sharma and IDCO CMD Sanjay Kumar Singh also spoke.