Government of India announced a policy for promotion of Petroleum Chemicals and Petrochemicals Investment Regions (PCPIR) in May, 2007, with the objective of accelerating promotion of investment in the chemical / petrochemical sectors so as to make India a hub for both domestic and international markets taking advantage of global shift in demand and production for petrochemicals. The petroleum refinery project under implementation by Nagarjuna Oil Corporation, a joint venture of TIDCO, will be one of the anchor units in the proposed PCPIR. NOCLs refinery project will go on stream in 2011. A detailed proposal has been prepared by TIDCO for establishing the PCPIR along the coastal stretches in Cuddalore and Nagapattinam districts. The proposal would be recommended by Government of Tamil Nadu to Government of India.