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Plastic Park Scheme

Plastic Park Scheme

Context:

Union Ministry for Chemicals & Fertilizers has come up with a scheme of Setting up Plastic Parks with a state-of-the-art infrastructure through a cluster development approach.

  • A Plastic Park is an industrial zone devoted to plastic enterprises and its allied industries.

Objectives:

  • Increase the competitiveness, polymer absorption capacity and value addition in the domestic downstream plastic processing industry through adaptation of modern, research and development led measurers.
  • In the petrochemical supply chain, the plastics industry can be classified into two categories.
    • First, the manufacturing of polymers, which is called ‘upstream’.
    • The second one is the conversion of processable polymers into useful end products, which are classified as ‘downstream’.

Details:

  • The Department of Chemicals and Petrochemicals has approved setting up of 10 Plastic Parks in the country.
    • Out of 10 parks, 6 parks have been given final approval in the States of Assam, Madhya Pradesh (two parks), Odisha, Tamil Nadu, and Jharkhand.
    • These 6 Plastic Parks are under various stages of implementation.
  • For the setting up of the remaining 4 Plastic Parks, the Detailed Project Reports (DPRs) for setting up Plastic Parks in the States of Uttarakhand and Chhattisgarh are under evaluation, and proposal for setting up of two new Plastic Parks are under process.

Funding:

  • Under the scheme, Central Government provides grant funding up to 50% of the project cost, subject to a ceiling of Rs. 40 crore per project.
  • The remaining project cost is to be funded by the State Government, beneficiary industries, and by a loan from financial institutions.

Implementation:

  • A Special Purpose Vehicle (SPV) shall complete the setting up of the Plastic Park in a period of three years from the date of final approval.

Details of the 6 Plastic Parks:

  • Madhya Pradesh: Plastic Park at Tamot has completed physical infrastructure and the purchase of equipment for common facility centers is in progress. One unit is functional in Plastic Park.
  • Madhya Pradesh: Plastic Park at Bilaua is at the implementation stage and work of development of physical infrastructure is in progress.
  • Odisha: Plastic Park at Paradeep is at the implementation stage and work of development of physical infrastructure is almost completed.
  • Jharkhand: Plastic Park at Deoghar is at the implementation stage and work of development of physical infrastructure is in progress.
  • Tamil Nadu: The work at Plastic Park at Thiruvallur has started recently and landfilling on the site is in progress.
  • Assam: Plastic Park at Tinsukia is at the implementation stage and work of development of physical infrastructure is in progress.

Source: The Hindu