Paradip Plastic Park to generate 10,000 jobs

Bhubaneswar, November 16, 2017: The proposed Paradip Plastic Park,
once fully developed will generate employment opportunities for around 10,000
people, said Union Petroleum and Natural Gas and Skill Development and Entrepreneurship
Minister Dharmendra Pradhan on Thursday.
The proposed plastic park has already received a grant-in-aid
of Rs 40 crore from the Central Government.
“Paradip Plastic Park, once fully developed, would host numerous
MSME industries of polymer sector with a potential of employment generation for
over 10,000 people,” said Pradhan.
IOCL will join IDCO as an equity partner bringing in its wake
huge financial strength and domain expertise in petrochemicals, said Pradhan here
at the Petrochemical Investors’ conclave-2017.
An MoU to this effect was signed between IDCO and IOCL in the
presence of the Union Minister.
The Indian Oil Corporation Ltd (IOCL) has commissioned a
state-of-the-art world class refinery with a capacity of 15 MMTPA at Paradip
with an investment of Rs 35,000  crore.
As a natural progression, Indian Oil is also setting up a
polypropylene plant with an investment of Rs, 3150 crores in the same complex
having capacity to produce 7 lakh tonne polypropylene per year. The plant will
produce Poly-propylene grades that would be used as inputs by ancillary units
of down-stream polymer processors to produce packaging bags/ materials for
cement /fertilizer units, moulded furniture/storage goods, packaging film for
textiles, food items etc. This will enable creation of a natural eco-system of
the entire value chain of Polymer production in one complex bestowing on Odisha
the distinction of having a world class integrated Polymer Industry.
Leveraging these advantages, the Paradip Plastic Park, which
is being developed to host downstream plastic processing industries, will
further give a great fillip to the expanding contours of development of Plastic
industry in Eastern India. With ready access to the Paradip port, the region is
well positioned to emerge as a major plastic raw material/ end product export
hub to the South East Asian countries.

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