Union Minister for Fertilizers and Chemicals Ananth Kumar on 12 January 2016 announced the sanction of greenfield petrochemical complex and National Institute of Pharmaceutical Education and Research (NIPER) in Visakhapatnam and a Central Institute of Plastics Engineering & Technology (CIPET) in Vijayawada.
The announcement was made at Confederation of Indian Industry (CII) partnership summit 2016 in Visakhapatnam.
The proposed petrochemical complex will be constructed by public sector companies Hindustan Petroleum Corporation Limited (HPCL) and Gas Authority of India Limited (GAIL). This would be an additional Medical Devices Park to the prior announced one in Gujarat in December 2015.
Greenfield petrochemical complex, will have a potential investment of 20000 crore rupees will be manufacturing medical devices and NIPER would help meet the demand for specialized manpower for making Visakhapatnam as a pharmaceutical hub.
Along with these, Union Government will expand the student capacity of Central Institute of Plastics Engineering & Technology (CIPET) in Vijayawada to 5000 from the existing 200 and the institute will also offer graduate and post graduate courses in plastic engineering and that there are 28 CIPET centers all over the country.
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