Centre allocates Rs 40cr for setting up plastic park in Odisha

New Delhi: The Centre today sanctioned Rs 40 crore for the setting up of a plastic park in Odisha that is expected to boost economic activity and job opportunities.

"The central government shall provide a grant of Rs 40 crore for the project out of which about Rs 8 crore is being released shortly," Minister of State for Chemicals and Fertilisers Srikant Jena said in a statement.

The plastic park will be set up at Siju village in Jagatsinghpur district of Odisha through a special purpose vehicle Paradeep Plastic Park Ltd, he said.

It will have state-of-the-art infrastructure and facilitate investments by micro, small, medium and large units that are expected to create vast employment opportunities.

"Opportunities shall be provided to the entrepreneurs in and around Balasore, Bhubaneswar, Cuttack, Paradeep, and other Districts of Odisha to set up new ventures, expand their operations and also compete globally," Jena said.

The projects envisaged in the region will have huge social and economic benefits as they will create direct and indirect employment for thousands of people, he added.

The Plastic, Polymer and Allied Cluster with all the requisite infrastructure facilities was approved earlier and and is being set up at Balasore at a cost of Rs 81.90 crore with central funding of Rs 58.28 crore. About 60 per cent of the grant for the Cluster has been released by the Centre.

Recently, an Advanced Plastics Processing Technology Centre (APPTC) under the aegis of Central Institute of Plastics Engineering and Technology (CIPET) at Balasore was also inaugurated, the statement added.