India : Mangalore petrochem complex to create several new jobs

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Home / Knowledge / News / Textiles / Mangalore petrochem complex to create several new jobs

Mangalore petrochem complex to create several new jobs

31
Dec '13

The petrochemical complex to be established in the city of Mangalore in the Indian state of Karnataka is expected to create huge number of jobs, said Indian Minister for Petroleum and Natural Gas M Veerappa Moily, while addressing a program in the city.

The Minister said the upcoming petrochemical complex in the Mangalore Special Economic Zone, is expected to attract an investment of Rs. 2,500 billion in the future, reports The New Indian Express.

According to the Petroleum Minister, the new petrochemical complex would help in boosting the economy of the country as well as solve the problem of unemployment in the state.

The Minister was in the city to dedicate the Petroleum, Oil and Lubricants (POL) berth number 13 to the nation and lay the foundation stone for berth number 18 for container and bulk cargo at New Mangalore Port (NMP) in Panambur.

Mr. Moily said the growth of NMP will contribute greatly to the country and would soon have 18 berths providing services for cargo handling. The port would become the second gateway of India, he added.

The construction of the new berth would cost Rs. 1.37 billion and would be completed in 20 months time. The berth will be used in handling bulk cargo and containers.

Fibre2fashion News Desk - India

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