New Delhi, Oct 29 (IANS) The central government Thursday signed an agreement with West Bengal to develop a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Haldia in the state.
“The PCPIR policy is a window to ensure the adoption of a holistic approach to the development of global scale industrial clusters in the petroleum, chemical and petrochemical sectors,” the coal ministry said in a statement.

It said the idea was to set up industrial estates in a planned manner with a view to achieve synergies and ensure value-added manufacturing, research and development.

The West Bengal government has estimated an investment of Rs.93,180 crore in the proposed PCPIR, which will be spread over 250 sq km.

“All existing labour laws of the country would be applicable in the PCPIR and SEZs in the region, if any, would be governed by special laws, as approved by government of India,” the statement said.

At least 10 lakh people are expected to get jobs at the proposed PCPIR units, including four lakh direct employment, it added.

Under the plan, infrastructure such as roads, railway links, air links, ports, water supply and power facilities will be developed on an investment of Rs.18,031 crore.

The state government has sought monetary support of Rs.2,108 crore from the central government for roads, port facilities and a submarine cable landing station.