Karnataka State Cabinet has given its consent to apply to the Union Government for establishing a Petroleum Chemical Petrochemical Investment Region (PCPIR). The Rs 1,52,000 - 2,00,000 crore project is subject to Union Government approval.
KSIIDC, which had been designated as the nodal agency to appoint consultants for the project, had appointed ILFS/IDC and LNT Ranboll Consultant Engineering Limited as project development advisors. A preliminary environmental impact assessment study had been carried out to assess the environmental impact due to grassroots development and types and scale of industries proposed in the project. A detailed project report would be worked out after the Centre gives its in-principle approval.
The three phases in the development of the project would be:
First phase (2008-14)
Acquisition of 2,23,462 acre or 94.95 sq km land, including processing and non-processing areas. o adverse impact was anticipated due to land acquisition as most of the land identified was wasteland or lands with shrub vegetation
Second phase (2014-20) and third phase (2021-2026):
Implementation of the project, which is estimated to be adequately viable considering the locational strength of Mangalore, availability of anchor tenants ONGC/MRPL and additional demand of downstream industries as replicated through various studies conducted by independent consultants.
KSIIDC, which had been designated as the nodal agency to appoint consultants for the project, had appointed ILFS/IDC and LNT Ranboll Consultant Engineering Limited as project development advisors. A preliminary environmental impact assessment study had been carried out to assess the environmental impact due to grassroots development and types and scale of industries proposed in the project. A detailed project report would be worked out after the Centre gives its in-principle approval.
The three phases in the development of the project would be:
First phase (2008-14)
Acquisition of 2,23,462 acre or 94.95 sq km land, including processing and non-processing areas. o adverse impact was anticipated due to land acquisition as most of the land identified was wasteland or lands with shrub vegetation
Second phase (2014-20) and third phase (2021-2026):
Implementation of the project, which is estimated to be adequately viable considering the locational strength of Mangalore, availability of anchor tenants ONGC/MRPL and additional demand of downstream industries as replicated through various studies conducted by independent consultants.
