Govt sanctions new Plastic Park for Odisha to help SMEs

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SME Times News Bureau | 26 Oct, 2013
Giving some relieve to the micro, small, medium enterprises (MSMEs) and large units, the government has sanctioned a new Plastic Park for Odisha, Minister for Chemicals & Fertilizers and Statistics & Programme Implementation Srikant Kumar Jena informed Friday.

"The Plastic Park being established near IOCL, Paradeep Refinery will have the necessary state-of-the art infrastructure and would facilitate investments by micro, small, medium and large units in the Plastic Park and is expected to create vast employment opportunities in the region," said ministry in a press release.

According to an official release, Jena has sanctioned setting up of a Plastic Park at Siju Village, Kujanga Tehsil of Jagatsinghpur District in Odisha.

"The Plastic Park is to be set up by a Special Purpose Vehicle called 'Paradeep Plastic Park Limited'," said release.

Jena while sanctioning the Plastic Park has stressed that with these stimuli, opportunities will be provided to entrepreneurs in and around Balasore, Bhubaneswar, Cuttack, Paradeep, and other Districts of Odisha to set up new ventures, expand their operations and also to compete globally in this sector.

He said that these projects envisaged in the region shall have huge social and economic benefits, as they will create direct and indirect employment openings for thousands of people.

The Central Government shall provide a grant of Rs 40 Crore for the project, of which about Rs 8 Crore is being released shortly.

Earlier a Plastic, Polymer and Allied Cluster with all requisite infrastructure facilities was approved and is being set up at Balasore, at a project cost of Rs. 81.90 Crore.

The grant from the Government of India for this cluster is Rs. 58.28 crore. About 60 percent of the grant for this Cluster has already been released by the Central Government.

Recently, an Advanced Plastics Processing Technology Centre (APPTC) under the aegis of Central Institute of Plastics Engineering & Technology (CIPET) has been inaugurated by Minister for Chemicals & Fertilizers Sri Jena at Balasore.

This centre at Balasore would train students through various Diploma, Post Graduate Diploma and other skill oriented vocational training programs in Plastics Processing Technologies. The CIPET centre shall act as an employment conduit between the skilled students and the upcoming industry in Jagatsinghpur, Balasore and other places of the State.