Bhubaneswar: November 29: Union Petroleum Minister Dharmendra Pradhan on Thursday sought Odisha Chief Minister Naveen Patnaik’s personal intervention in the formation of a joint venture to establish a proposed plastic park at Paradip.
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 Odisha 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 Union Minister.
Pradhan said that six investors have applied for land in the plastic park.
A polypropylene project would be on stream at Paradip Refinery by February 2019 and hence units at Paradip plastic park can use polypropylene raw materials as feedstock, he said.
He said the Petroleum Ministry has already obtained the no objection certificate (NOC) from NITI Ayog for the JV.
The Chemical and Fertiliser Ministry 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. (IANS)