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Panipat's petro-chem hub to benefit polymer units in Northern states
02
Jan '09
Panipat, the ancient and historical city of Haryana, is all set to welcome the most prestigious project to become the petro chemical hub in North India.

Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) along with Indian Oil Corporation Limited (IOCL) are working jointly on this proposal.

It is expected that with the completion of this project downstream industries, especially polymer-based units in the northern states, will be benefited the most.

Sources HSIIDC informed Fibre2fashion.com that a total of 4,000 acres of land is required for this project. However till now only 900 acres have been acquired.

Officials of HSIIDC are still working on issues like ownership rights, development model to adopt and procedure to follow. Total investment required for the project is Rs35 billion.

The HSIIDC further informed that currently IOCL is associated with them, however, in future they may get associated with any other organization depending on the progress of the project.

The new complex is likely to attract an investment of more than Rs150 billion. Besides providing employment to about 15,000 persons directly, it will also generate indirect job opportunities through ancillary units.

Fibre2fashion News Desk - India

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