Home ECONOMY Plastic park in Kujang gets Central nod

Plastic park in Kujang gets Central nod

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OST Business Bureau

Bhubaneswar, Dec 17:

The Centre has accorded its final nod for the setting up of a plastic park at Siju village under Kujanga Tehsil in Jagatsinghpur district, informed Union Minister for Chemicals & Fertilizers Srikant Jena in a written reply to the Lok Sabha.

He also informed that while final approval had also been given to a plastic park to be set up in Raisen district in Madhya Pradesh, ‘in principle approval’ had been accorded to proposed plastic parks in Assam, and in Tamil Nadu.

Jena said that the Union Government provides funds up to 50% of the project cost, subject to a ceiling of Rs 40 crore per project ,under ‘scheme for setting up plastic parks’.

He said indiscriminate littering of used plastic bags and the absence of organized segregation/cleaning of plastic wastes in urban centres is a major area of concern.

Accordingly, the Ministry of Environment and Forest has notified the Plastic Waste (Management and Handling) Rules, 2011 under the Environment (Protection) Act, 1986. These Rules regulate the manufacture and usage of certain plastic products and the management of plastic waste.

The Minister added that the virgin plastic bags are not per-se injurious to health or hazardous to environment as plastic is a chemically inert substance, but recycled/coloured bags are.

The plastic park at Paradip would be developed under the ‘scheme for setting up plastic parks’ while Odisha Industrial Infrastructure Development Corporation (IDCO) and Indian Oil Corporation Limited (IOCL) would forge a special purpose vehicle (SPV) to develop the park. IOCL will have 74% stake and IDCO 26% in the proposed SPV.

The Odisha government expects to attract investment worth Rs 2.78 trillion in the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Paradip and other related proposals in the region. Once work on the IOCL refinery is completed, IOCL shall be single and major source of raw material for the proposed plastic park. The refinery project is expected to be completed by the first quarter, 2014.