Well known industrialists on Wednesday urged the State government to promote the proposed petrochemical investment region in the Cuddalore-Nagapattinam region.
“The government had notified 45 villages to be part of the petrochemical hub. Post that there has been no action. There is a need to promote the region to attract investments into the region,” Janardhanan Ramanujalu, co-chairman of FICCI’s Petrochemical Industry Committee, told State Industries Minister M.C. Sampath at an interactive session at FICCI’s national executive committee meeting in Chennai on Wednesday.
Mr. Ramanujalu, who is also vice president and regional head, South Asia, SABIC India Pvt. Ltd, said that other states have been aggressively developing their petrochemical region and it is important for Tamil Nadu to also put the development of the petrochemical hub on a fast lane.
Industrialist A.C. Muthiah pointed out that long ago, Southern Petrochemical Industries Corporation (SPIC) along with Madras Refineries had planned a huge petro-chemical complex to manufacture ‘aromatics’ including raw materials like purified terephthalic acid (PTA) used to produce synthetic fibres. However, he said that the project could not take off due to a litigation and urged the State government to look at possibilities of reviving it.
Mr. Sampath said that the State is keen on developing the petrochemical region and is taking all possible measures.
Published - November 06, 2019 04:27 pm IST
