Government sanctioned a new Plastic Park for Odisha
Government sanctioned setting up of a Plastic Park in Odisha. SPV called Paradeep Plastic Park Limited will be set up the Plastic Park.
Union Minister for Chemicals & Fertilizers on 25 October 2013 sanctioned setting up of a Plastic Park at Siju Village, Kujanga Tehsil of Jagatsinghpur District in Odisha. A Special Purpose Vehicle (SPV) called Paradeep Plastic Park Limited would set up the Plastic Park.
The project will receive a grant of 40 crore rupees by the Government of India of which 8 crore rupees will be released sooner. The Plastic Park is being established near IOLC. The infrastructure related the micro, small, medium and large units in the Plastic Park will be facilitated by the Paradeep Refinery and it has the necessary state-of-the art infrastructure.
The park will open opportunities to the entrepreneurs in and around districts like Balasore, Bhubaneswar, Cuttack, Paradeep, and other districts of Odisha to set up new venture. This will help them to expand their operations to globally compete in the sectors. These projects will bring in social and economic benefit by creating direct and indirect employment opportunities for people.