MoU signed for AP petrochemical investment region
Hyderabad, Oct 1 :
The Chief Minister, K Rosaiah said that today is a golden letter day in the history of Andhra Pradesh as the State takes a big leap on the industrial front with the signing of MoU on PCPIR at New Delhi.
The Chief Minister expressed his happiness and wholeheartedly congratulated the State Industry officials in connection with the MoU signed between GOI and Govt. of AP today at New Delhi for the establishment of Petroleum, Chemicals & Petrochemical Investment Region (PCPIR) in the State between Visakhapatnam and Kakinada.
He said the development of PCPIR was one of the dream projects of the then Chief Minister, Dr.Y.S.Rajasekhara Reddy. Mr.Rosaiah is happy that the project has become a reality. Andhra Pradesh is the first State to sign MoA for a PCPIR.
Mr. B. Sam Bob, Principal Secretary, Industries signed the MoU on behalf of GoAP with Ms. Neel Kamal Darbari, Joint Secretary, Petrochemicals in the presence of Bijoy chatterjee, Secretary, Petrochemicals, GOI and other senior officials. B.P. Acharya, CMD, APIIc was also present.
It may be recalled that the GOAP has announced a policy for Petroleum, Chemicals & Petrochemical Investment Region (PCPIR) between Visakhapatnam-Kakinada in May 2007. Andhra Pradesh was the first state to apply for approval of GOI has approved the APPCPIR in March 2009.
The objective of PCPIR is to create world class infrastructure like widening National Highways and State Highways, rail links, upgradation of airports etc., seaports, power supply and water supply. The cost of total infrastructure for the project is approved at Rs. 19,031 crores and the GOI assistance is Rs. 6,334 crores. The Commitment of State Government is to a tune of Rs. 2132 crores for improving water supply, power supply etc.
The total investment expected is above 3 lakh crores over a period of 7-10 years. Employment projected is 12 lakhs (Direct 5.25 lakhs and Indirect 6.75 lakhs).
PCPIRs were sanctioned for Gujarat & West Bengal also.
Under this project, National Highway No. 5 between Visakhapatnam-Rajahmundry will be upgraded to 6 lanes. National Highway 214 between Kathipudi and Kakinada will also be improved as 4 lanes in the first phase. Similarly, 4-lane important link roads between Anakapally (NH 5) to Achutapuram junction and Yelamanchali (NH 5) to Achutapuram Junction will be upgraded under Central Road Fund (CRF) Scheme of Govt. of India. Besides Port connectivity road will be developed from Kakinada to Annavaram.
This is a major achievement by GOAP to upgrade the infrastructure in Visakhapatnam – Kakinada area with GOI support. Further, this would attract global investments leading to large scale employment generation in the State.