New Delhi: The Odisha government Tuesday urged the South Korean investors to invest in the  proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Paradip.

“The PCPIR at Paradip is an ideal destination for companies to invest in petroleum, chemicals and plastics sector”, said the state industries principal secretary, Sanjeev Chopra. He added, “The PCPIR offers multiple strategic advantages such as easy availability of raw material for chemical and petrochemical downstream industries, sufficient port capacity to import feedstock, industry-ready labour pool, competitive power tariff, water availability.”

Chopra said the PCPIR project, which is being developed with an investment of Rs 13,643 crore over an area of 284 sq. km, is  expected to create more than 6,00,000 direct and indirect employment opportunities.

The principal secretary ,while speaking at the 2nd India-Korea Business Summit 2018, here on Tuesday, said chemicals, plastics and petrochemicals is one of the focus sectors in the Odisha Industrial Development Plan: Vision 2025.

The Paradip PCPIR with the IOCL’s 15 million tonnes per annum refinery as anchor tenant, is one of the PCPIR in the country. IFFCO, Paradeep Phosphates, Skol Breweries and Essar are going to be part of the PCPIR.