Mumbai: The government has proposed Kakinada in Andhra Pradesh as an additional location for setting up petroleum and petrochemical complexes even as the group of ministers have identified seven locations in the costal regions for petroleum, chemicals and petrochemicals investments.
The task force has already identified Vishakapatnam in Andhra Pradesh as one location for setting up such a complex. The other locations identified by the task force on petroleum, chemicals and petrochemicals investment regions are Kochi in Kerala, Haldia in West Bengal, Mangalore in Karnataka, Paradip in Orissa and Panipat in Haryana.
"Andhra Pradesh will have two petrochemical complexes in Vizag and Kakinada. In Vizag, Hindustan Petroleum Corporation Limited (HPCL) will be anchor tenant, while in Kakinada the anchor tenant will be Oil and Natural Gas Corporation (ONGC)," minister of state for industry Ashwani Kumar said.
ONGC is also likely to anchor of the petrochemical hub in Mangalore and Dahej. IOC is expected to anchor Paradip, Panipat and Haldia. BPCL or GAIL could work out the Kochi (Kerala) project.
Sources said Kakinada has been selected because of huge gas discoveries off Andhra coast.
The petochemical hubs are expected to attract more than Rs100,000 crore in investments while the economy achieves growth rates nearing 10 per cent in the next five years.