Page 58 - Plastics News October 2018

BuSinESS nEwS

State urges Centre to fund Paradip PCPIR

hief Secretary AP Padhi has urged the Government anchor tenant of the Paradip PCPIR, will play a pivotal
Cof India to consider providing the necessary role in the development of PCPIR.
budgetary support for the development of external and Padhi said the IOCL is on track to complete the development
internal infrastructure in the Petroleum, Chemicals and of projects planned at Paradip- Polypropylene, MEG,
Petrochemicals Investment Region (PCPIR) at Paradip.
Paraxylene-PTA Complex and petcoke gasification, as per
Padhi said that as special schedule and operationalize all of them by 2022-23.
emphasis is being laid by the The Government has also developed a plastics park at
State Government for the
development of the PCPIR at Paradip which has seen an encouraging response from
Paradip by providing the right the investors.
mix of industrial infrastructure
and fiscal incentives, support
of the Union Government is India keen in Myanmar’s
needed. midstream and downstream
He said that owing to the
proactive and progressive governance, the State of Odisha sectors
is fast emerging as the manufacturing hub of Eastern India.

Speaking in the India Chem Meet at Mumbai recently, Padhi o discuss bilateral engagement issues in the
said that live investment growth, year on year, during Thydrocarbon sector, minister of petroleum and
2015-16 and 2016-17 for Odisha was 16.5 per cent, whereas natural gas and skill development and entrepreneurship
the same stood at 4.6 per cent for India. Dharmendra Pradhan recently met union minister for

The Industrial Policy Resolution 2015 recognises chemicals Construction, Electricity and
and petrochemicals as a priority sector and a number Energy of Myanmar, U Win
of attractive fiscal and non-fiscal incentives for the Khaing.In the upstream sector,
promotion and development of the sector has been laid the ministers discussed the
out in the policy. current and future investments

The Odisha Industrial Development Plan 2025 has been by Indian oil PSUs in Myanmar.
developed to broadbase the industrial base of the State Currently, ONGC Videsh Ltd
by leveraging its strategic advantages of infrastructure, (OVL) and GAIL have invested
geographic location, abundant natural resources in gas producing blocks in
and skilled human resources. Petrochemicals form a Myanmar. OVL also has stakes
keycomponent of this Vision 2025. in exploratory blocks in
Myanmar. Indian companies Indian Oil Corporation,
Support from the departments of Ministries of Road Numaligarh Refinery Limited and Hindustan Petroleum
Transport and Highways, Railways and Shipping for
increasing the road and railway connectivity, port capacity Corporation Ltd are exporting petroleum products,
and creation of internal waterways in the State would lubricants and paraffin wax to Myanmar. Indian PSU
propel the growth of the region. companies have invested over US $ 1 billion in the
upstream and midstream sectors in Myanmar. Pradhan
Besides, the existing policy on PCPIR needs to be revised said India is interested in participating in midstream
in consultation with the stakeholders and a comprehensive and downstream sectors in Myanmar, including setting
integrated policy for petroleum, petrochemicals and up a refinery, storage, distribution and marketing of
chemicals must be developed. petroleum products in Myanmar. He also extended
This will help the PCPIR to gain momentum and realize proposals to assist Myanmar in training and capacity
the objective for which it was envisaged. IOCL, being the building in hydrocarbon sector.

60
Plastics N
Plastics News October 2018ews October 2018 58