Hyderabad, May 22: The Centre has approved the first Petro Chemical Investment Region in the country to be set up between Visakhapatnam and Kakinada. A high-level official committee — headed by the Union Cabinet secretary, Mr M. Chandrasekhar, met at New Delhi on May 21 and cleared the state's proposal.
Though the committee was supposed to give a green signal to the proposal last week, the meeting was postponed due to Jaipur blasts. “The committee gave the approval and the same would be put for the Cabinet’s clearance,” the managing director of the Andhra Pradesh Industrial Infrastructure Corporation, Mr B.P. Acharya, told this correspondent. The Petro Chemical Investment Region will be set up in 74,000 acres and the projected investment in the region is Rs 3 lakh crore.
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