There is a huge opportunity to develop downstream industries in the newly-set up Paradip Plastic Park.
local investors should take advantage of the facilities and incentives given by both Union and State Governments. The park which is situated just beside the IOCl refinery is a joint venture of IOCl and IDCO developed with an investment of Rs 106 crore.
All the facilities like water supply, electricity and low cost land are available for investors as the State Government has provided additional Rs 20 crore as grant in aid to reduce land cost under provisions of incentives in Industrial Policy Resolution 2015.
“Under one roof, the investors can directly produce or process wire spokes, packaging and bottle caps, dry containers, shampoo bottles, tubes and pipes”, said CEO Paradip Plastic Park GB Kar in an Investors’ Meet here in Bhubaneswar which was being organised by the Utkal Chamber of Commerce and the Indian Oil.
Presenting how the Government of Odisha is promoting industrialists and investors, General Manager, IPICOl Kalyan Mohanty said, “We have smoothen the criteria and project formalisations through single online windows as investors will not go anywhere to request under the Ease of Doing Business and Cost of Doing Business schemes”.
“For the Paradip Plastic Park, we had engaged CIPET to develop 20 project models, which are readly available for investors. They don't need to invest or research on formulating new projects,” added Mohanty. The Government of Odisha has targeted to attract Rs 2.5 lakh crore investment by 2025 and aims at creating 30 lakh jobs under Odisha Industrial Development Plan, Vision - 2025. To make this happen, the State Government is focusing on plastic industry out of five priority and focused sectors, added Mohanty.
“As per capita consumption of plastic is growing and Odiaha is producing five times les it is consuming, there has been a huge potential to grow downstream industries to grow,” opined Head CIPET, Bhubaneswar Center PS G Krishnan.
“As we are very heavily investing in Odisha, we wish to appeal local investors to use the opportunity which will pave way for the State's growth,” stressed Executive Director, Petrochemicals of Indian Oil Corporation Avinash Verma.
He further said, "We are going to commission 7 lakh MT capacity polypropylene project in November this year which is in execution stage and will help the plastic manufacturers”.
The programme was chaired and moderated by UCCI president Ramesh Mahapatra.