Petrochemical hub in Gujarat to generate Rs50,000-crore investment

The Gujarat government is setting up global scale industrial clusters in the petroleum, chemicals and petrochemical sectors at Dahej, involving total investment of about Rs50,000 crore.

The integrated and environment friendly Petroleum, Chemicals and Petrochemical Investment Region (PCPIR) has already in hand committed investments of Rs22,930 crore.

The PCPIR is expected to generate total employment of about eight lakh and provide direct employment to about 1.9 lakh people over a period of time, an official release said.

The proposal envisages development of physical infrastructure such as roads, rail, air links, ports, water supply, power etc at a cost of Rs7,749.7 crore.

Under the PCPIR policy, infrastructure will be created or upgraded through public-private partnerships to the extent possible and the central government will provide the necessary viability gap funding (VGF). The centre may also make the necessary budgetary provisions for creation of these linkages, wherever necessary.

The government of Gujarat has sought support from the centre involving a commitment up to Rs80.5 crore on account of VGF for eight road and two rail projects through the PPP mode.