The Centre is chalking out guidelines for the Petroleum and Petrochemical Investment Region projects that have got in-principle government approval and are expected to attract huge investments, Minister of State for Industry Ashwani Kumar said in Jalandhar on Monday.
The Centre is actively involved in pushing through the PPCIR projects which would be spread over an area of 200-300 sq km each, Kumar told reporters.
"The PPCIR has received an in-principle approval from the Cabinet. Once the policy is notified, it will lead to mega-investments through the PPP (public-private-partnership) mode in the coastal states," Kumar said, adding that inter-ministerial consultations were on at present and rules are to be framed.
"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.
Regarding Delhi-Mumbai Industrial Corridor, the minister said the government is committed to complete this project, which is expected to cost about Rs 4,00,000 crore (Rs 4,000 billion).
"The government will be investing in a slew of mega infrastructure projects. The Delhi-Mumbai Industrial Corridor has an investment of Rs 4 lakh crore (Rs 4,000 billion) earmarked for it and the Maritime Development Fund, Rs 1,00,000 crore (Rs 1,000 billion)," he said, adding that the DMIC will create hubs of vibrant industrialisation cutting across several states.