WB Govt to set ‘Petrochem’ hub at Nayachar

WB Govt to set ‘Petrochem’ hub at Nayachar

In the present phase of industrial development in the state of West Bengal, the Chemicals and Petrochemical sector, which has immense potential for growth in the context of national and global demand for chemical and petrochemical products is a priority sector. The State Government has identified this sector as a thrust area.

The West Bengal Government has taken a policy decision to set up a Petroleum, Chemical & Petrochemical Investment Region (PCPIR) in Nayachar near Haldia.

Haldia region is a suitable location for PCPIR because of the presence of IOC Refinery, Haldia Petrochemicals, Mitsubishi Chemicals, and other units as well as availability of port facilities Moreover, the proposal of setting up of a Deep Sea Port which is already on the anvil, if materialised, will also be nearer to Haldia and substantially strengthen the required infrastructure of a PCPIR.

The proposed WBPCPIR at Haldia envisages setting of industrial clusters both in the large and SME sectors, development of industrial infrastructure including upgradation of Port facilities, road and rail connectivity, development of social infrastructure, setting up of Training Institutes, Vocational Training Centres, creation of irrigation facilities for newly developed agricultural land. As a matter of fact, the setting up of the proposed PCPIR will not only help Bengal as a leading player in the petrochemicals industry but also open the floodgate of opportunities. It would also create vast employment opportunities.

The State Government has constituted an Expert Committee to advise it on this.

A Joint Venture Company styled PCRCPL between NKID and WBIDC has been formed for development of a part of the processing area in Nayachar island. NKID is a consortium between UniTech Ltd (40 percent), Salim Group of Indonesia (40 percent) and Universal Success of Indonesia (20 percent). This JV Company has already started preliminary survey work in the island. IndianOil Corporation will be the anchor investor of the proposed PCPIR. In fact, they have already started expansion of their existing refinery in Haldia with an investment of Rs. 3000 crore. A Greenfield refinery is also expected to come up once the required infrastructure facilities are put in place. The proposed PCPIR in the Nayachar island will not only contribute to the emergence of entire Haldia region as the state’s significant industrial hub but also substantially strengthen the State’s economy and make qualitative improvement of the lives of the people of the State as a whole.