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States ride on oil firms for industrial zones

ONGC Petro Additions Limited is setting up a multi-feed cracker plant involving an investment of Rs 13,000 cr, report Deepak Joshi and Gaurav Choudhury.

business Updated: Dec 23, 2007 21:20 IST

Gujarat, Karnataka, Andhra Pradesh and West Bengal have set the ball rolling to build large petrochemical and petroleum investment regions (PCPIR) largely anchored around existing projects of public sector oil companies. The PCPIR policy was launched in May this year.

The Gujarat government has proposed a 453 square km PCPIR spread across Dahej, Bharuch and South Gujarat centred on th multi-feed cracker project of Oil and Natural Gas Corporation (ONGC).

ONGC Petro Additions Limited, a joint venture company promoted by ONGC and Gujarat State Petroleum Corporation, is setting up a multi-feed cracker plant involving an investment of Rs 13,000 crore.

The Gujarat government has stated in its application that a special economic zone for petrochemicals is planned in the proposed PCPIR called the Dahej SEZ. It will be a joint venture between ONGC and Gujarat Industrial Development Corporation (GIDC).

The Karnataka government has sent a proposal to build a 250 square km PCPIR in Dakshina Kannada and Udipi districts anchored to Mangalore Refinery and Petrochemicals Limited (MRPL).

An industry source said that the state government has already drawn up a list of select investors in the zone. ONGC and MRPL are planning an integrated petrochemical complex by 2010 at an investment of Rs 35,000 crore located within the region delineated for the proposed PCPIR.

The Andhra Pradesh government has proposed to set up a 603 square km PCPIR from Vishakapatnam port in the north to the Kakinada deep water port in the south.