Rajasthan presents its PCPIR as optimum investment destination at India Chem 2021

The Petrochemical and Petroleum Investment Region being developed in Rajasthan drew attention of investors at country's largest chemical and petrochemical event, India Chem 2021.

Jaipur.

 The Petrochemical and Petroleum Investment Region being developed in Rajasthan drew attention of investors at country's largest chemical and petrochemical event, India Chem 2021. 

Organised jointly by the Government of India's Department of Chemicals and Fertilizers and  Federation of Indian Chambers of Commerce and Industry (FICCI) the three day international conference and exhibition witnessed participation from various state governments along with Indian and multinational industries from the diverse sector. 

During the event apex industrial development agency of Rajasthan Government, the Rajasthan State Industrial Development and Investment Corporation (RIICO) presented the upcoming Petrochemical and Petroleum Investment Region (PCPIR) as an optimum investment location for the rising sector. 

The PCPIR is being developed near the upcoming HPCL Rajasthan Refinery in Barmer district of Rajasthan. Officials from RIICO informed that a wide range of chemicals from the refinery and petrochemical complex will be soon available as raw material for a range of downstream industries. 

The industries located in PCPIR will benefit from the advantage of proximity with the refinery. The first phase of the PCPIR is planned over 243 hectare of land at a distance of 17 kilometers from the refinery. There are 93 industrial plots planned in the phase and allotment for them is expected to commence from July 2021. During the conference officials from RIICO also held discussions with several investors regarding opportunities at the investment region. 

India Chem 2021 was held between March 17 to March 20, 2021 in New Delhi on theme of 'India : Global Manufacturing hub for chemicals and petrochemicals'. Chemical and Fertilizer minister, Govt of India in his inaugural address said that chemicals and petrochemicals Industry in India is expected to attract investment of nearly Rs 8 lakh crore by 2025.  

Rajasthan with the advantages of oilfields and petrochemical complex is a major contender for the investment. The policy and infrastructure support also make the state a preferred investment destination. Industry Secretary to Government of Rajasthan and MD RIICO Shri. Ashutosh AT Pednekar highlighted these advantages while virtually addressing the Global CEO roundtable discussion at the event. The roundtable discussion was participated by nearly 50 CEOs from leading petrochemical industries and MD RIICO invited them to invest in PCPIR of Rajasthan.