PTI
MUMBAI, JAN 29
Keen to sustain the country’s economic growth, the government has earmarked billions of dollars for investment in mega infrastructure projects, a Central minister said.
‘The government will be investing in a slew of mega infrastructure projects. The Delhi Mumbai Industrial Corridor (DMIC) has an investment of Rs 4-lakh-crore earmarked for it and the Maritime Development Fund, Rs 1,00,000-crore. Besides, we are also setting up the Petroleum and Petrochemical Investment Region (PPCIR) project,’ Union Minister of State for Industry, Ashwani Kumar, said.
‘The DMIC will create hubs of vibrant industrialisation cutting across several states, from Dadri to Navi Mumbai,’ he said.
The Centre is actively involved in pushing through the Petroleum and Petrochemical Investment Region (PPCIR) projects which would be spread over an area of 200-300 sq kilometer each.
‘The PPCIR has received an in-principle approval from the Cabinet. Once the policy is notified, it will lead to mega investments in the PPP (public-private-patnership) mode in the coastal states,’ Kumar said, without divulging the amounts involved or a time-frame.
At present, inter-ministerial consultations are underway and rules have still to be framed, he said.
‘PPCIR will be replicated in a total of five coastal states, including Orissa, Gujarat, Andhra Pradesh and West Bengal. Indian Oil will be the anchor tenant in Paradip (Orissa), ONGC in Vizag (Andhra Pradesh) and Reliance Industries in Jamnagar (Gujarat),’ Kumar said.
The projects will be developed by anchor tenants or a particular player in the petroleum sector already present in the location selected, Kumar said.
‘It is a three-pronged strategy whereby the state will provide the land, the Central Government will help with the related infrastructure while the promoter companies will develop the project,’ he said, adding that several private players have evinced interest in the project.
