An MoU was signed on Tuesday between IndianOil and Odisha Industrial Infrastructure Development Corporation (IDCO) to develop a Paradip Plastic Park.
The MoU was signed in the presence of Chief Minister Naveen Patnaik, Union Minister for Petroleum Dharmendra Pradhan, Pradhan said Odisha would become the nerve centre of industrialisation through rapid development in petrochemical, chemical, polymer, textile and fibre sectors. Six such parks have been approved by the Government of India with the Paradip facility being one of them.
The Paradip Plastic Park would be developed over 120 acres of land with common facilities for downstream plastic units such as green belt, road network, waste disposal system, workers colony, etc. A total of 80 saleable industrial plots of different sizes are available; and the total project cost for development of the park is Rs 106.78 crore.