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Pradhan seeks Odisha CM's help for Paradip plastic park

IANS  |  Bhubaneswar 

on Thursday sought Chief Naveen Patnaik's personal intervention in the formation of a joint venture to establish a proposed plastic park at

In a letter to Patnaik, Pradhan requested him to instruct the concerned authorities to complete formalities for the joint venture (JV).

Indian Oil and the state government-controlled Industrial Infrastructure Development Corporation (Idco) have jointly proposed to develop the plastic park.

"The joint venture needs to be ready as soon as possible, which would take care of requirements of investors and work on further infrastructure developments," said the

Pradhan said that six investors have applied for land in the plastic park.

A polypropylene project would be on stream at Refinery by February 2019 and hence units at plastic park can use polypropylene raw materials as feedstock, he said.

He said the has already obtained the no objection certificate (NOC) from NITI Ayog for the JV.

The has sanctioned Rs 40 crore as grant-in-aid to the plastic park as assistance for infrastructure development. Indian Oil will infuse Rs 32.72 crore after signing the JV papers, said Pradhan.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 16:46 IST