The Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC), is set to acquire 7,600 acres more for the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), coming up between Vizag and Kakinada.
The special zone now has about 20,500 acres on hand and is spread over 603 sq km along the Visakhapatnam coast close to major oil and gas discoveries.
The Andhra Pradesh Government has earmarked Rs. 2,000 crore to develop the infrastructure and the Centre will provide Rs 6,300 crore to develop the mega project, one of the four approved by the Government and coming up in Haldia in West Bengal, Dahej in Gujarat, Paradeep in Orissa and Visakhapatnam in AP.
The Principal Secretary Industries and Commerce, Andhra Pradesh, Mr T.S.Appa Rao, said that the Government is actively scouting for anchor investor in the region, which has already attracted several companies. Many companies are approaching the Government with proposals for investments.
Master plan
Speaking at a conference on PCPIR - Andhra Pradesh hosted by Assocham here on Friday , Mr Appa Rao said that a master plan is now underway for the project, which will entail investment of about Rs 19,000 crore in infrastructure alone.
“About Rs 600 crore is for development of roads, Rs 900 crore for water supply and Rs 500 crore to strengthen the power supply network. A significant progress is made to develop road corridors and improve the related infrastructure which will make investments in the PCPIR attractive,” he said.
HPCL, LG Polymers, Coromandel, Godavari and Nagarjuna Fertilisers, Andhra petrochemicals, Rain Commodities, Pharma City with Pharma SEZ and Hetero Pharma are among projects setting up bases in the region.
Mr B.R. Meena, Vice-Chairman and Managing Director of APIIC, said: “several of the companies setting up projects have secured environmental clearances. The PCPIR as a zone will also soon get environmental approval. Petrobas of Brazil and some US corporations were invited to partner.”