IOCL Paradip Plastic Park

An incentive of Rs 2000/MT on Polypropylene granules from Paradip Refinery shall be offered to the manufacturing units located in the Paradip Plastic Park till 31.3.2030

The park would be equipped with facilities for warehousing, logistic, plastic recycling, testing and R&D to provide better price realization and waste minimisation

Indian Oil Corporation Ltd (IOCL) may pick up 49 per cent equity in the special purpose vehicle (SPV) formed by the state government controlled Odisha Industrial Infrastructure Development Corporation (Idco) for the Plastic Park project proposed at Paradip." We have taken the approval of the state government that IOCL will be taking up 49 per cent equity in the plastic park and Idco will have 51 per cent stake. We will be signing a a pact formally with the IOCL", said an Idco official.Recently, state industries department had asked IDCO to obtain theconcurrence from IOCL for holding 49 per cent equity in the Paradip Plastic Parks Ltd along with their intention to incentivize the units in park by offering the feedstock to the investors at a concessional rate as has been done by Nalco for the Aluminium Park .A memorandum of understanding (MoU) was signed between IOCL and Idco at the 'Petrochemicals Investor Conclave 2017' held in November last year where the former had agreed the join ..

The proposed park has already received a grant in aid of Rs 40 crore form the Central govt