State-owned Oil and Natural Gas Corp's Rs 13,000 crore Dahej complex will be the anchor tenant at the proposed special area for chemical and petrochemicals industry in the Gujarat city that may attract a total of Rs 50,000 crore of investment.
"Total investment of about Rs 50,000 crore is expected in the Gujarat petroleum, chemicals and petrochemical investment regions (PCPIR)," an official statement said after the Department of Chemicals and Petrochemicals signed a Memorandum of Agreement with the Gujarat Government to set up a PCPIR at Dahej.
The Union Cabinet had in March 2009 approved setting up of three PCPIRs in the country to bring in investments to the tune of Rs 4,86,180 crore, while generating employment for 30 lakh people. The regions which would be spread over 1,307 sq kms in Andhra Pradesh, Gujarat and West Bengal.
ONGC Petro-Additions Ltd, a joint venture firm promoted by ONGC, plans to set up a grassroot integrated petrochemical complex at a cost of Rs 13,000 crore at Dahej. The 1.1 million tonnes dual feed cracker will process ethane, propane and butane extracted from naphtha and gas for making chemicals.
"Government of Gujarat proposes to set up a PCPIR at Dahej spread over the blocks of Vagra and Bharuch in the district of Bharuch, South Gujarat covering an area of 453 sq kms. It will have a processing area of 186 sq kms," the statement said.
