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| Plastene Infrastructure puts SEZ on fast track |
| Kalpesh Damor / Mumbai/ Ahmedabad Oct 14, 2009, 00:10 IST |
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To invest Rs 1,000 crore, acquires 150 acres of land
Plastene Infrastructure Ltd, a part of Champalal Group, has put its proposed special economic zone (SEZ) for packaging on a fast track. Apart from approaching Board of Approvals (BoA) for SEZs, the company has augmented the land acquisition process for its SEZ.
The proposed SEZ is slated to come up at Bhachau in Kutch. The company intends to pump in around Rs. 1,000 crore for the project.
The Ahmedabad-based company had started necessary groundwork for the SEZ one year back but was forced to go slow due to global slowdown. "Now, the company has accelerated the work and we hope to start the SEZ in next two years," said Prakash Parekh, director, Plastene Infrastructure.
The packaging SEZ of the company requires around 250 acres of land. "Of the total land requirement, we have already acquired 140 to 150 acres of land and the process is on for meeting remaining land requirement," he added.
Government of Gujarat has already cleared the SEZ proposal of the company, which has now approached Board of Approvals (BoA) for SEZs for further approval. The company is currently awaiting BoA for SEZ's approval.
It may be mentioned here that Plastene India Ltd, a flagship company of Champalal Group, is country's leading plastic packaging solutions provider. It manufactures flexible intermediate bulk container (FIBC), tarpaulin and woven bags in India. Its other products include garbage bags, low density polyethylene (LDPE) film, masterbatches and reprocessed granules.
"We will also put up our own manufacturing unit in the SEZ and other players operating in packaging industry will set up their shops in the SEZ," he stated.
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