From Our Special Correspondent
Daijiworld Media Network - Bengaluru
Bengaluru, Jan 24: Union Chemicals and Fertilisers Minister D V Sadananda Gowda has announced a Rs 50,000 crore mega investment plan for the revival of four fertilizer factories and the setting up of a plastic park in the coastal city of Mangaluru with Rs 40 crore funding from the Centre.
The Minister said the Narendra Modi government has decided to develop two plastic parks as part of self-reliant India scheme in the coastal city of Mangaluru in Karnataka and Gorakpur in Uttar Pradesh, which have been given in principle clearance at the steering committee meeting of the Petrochemicals Ministry.
"I have already provided information to the two State Governments concerned and have asked for submitting detailed project report (DPR) at the earliest possible," he said in a statement released from Bengaluru.
Gowda said the Government of India wants to grant final approval within six months and start the projects.
"The share of India in world trade of plastics is very low. The Indian Plastics industry is large but highly fragmented with dominance of tiny, small and medium units and thus lacks the capacity to tap this opportunity," he said pointing out that the Department of Chemicals and Petrochemicals has formulated this scheme with a view to synergize and consolidate the capacities through cluster development of Petrochemicals industry in the country.
The Centre wants to enhance the competitiveness, polymer absorption capacity and value addition in the domestic downstream plastic processing industry through adaptation of modern, research and development led measures by seeking to increase investments in the sector through additions in capacity and production, creating quality infrastructure and other facilitation to ensure value addition and increase in exports.
The Government also aims to achieve environmentally sustainable growth through innovative methods of waste management, recycling etc., by adopting a cluster development approach to achieve the above objectives owing to its benefits arising due to optimization of resources and economies of scale, he explained.
The proposed plastic parks is similar to industrial area development concept and would comprise of all modern common facilities pertaining to production of plastics and thereby encourage domestic plastic industries to compete in the international market with all quality standards.
Gowda said the State Government can start the plastic park in Mangaluru through its already existing Karnataka State Industrial Development Corporation (KSIDC) or by establishing a special purpose vehicle (SPV). The Union Chemicals and Fertilisers Ministry will bear half the cost of providing modern common facilities subject to a maximum of Rs 40 crore, he said.
The Union Minister said the Narendra Modi government wants the country to become self-sufficient in all sectors by implementing systematic plans. "We want India to become self-sufficient and self-reliant in the fertilizer sector," he said.
Stating that the Centre wants to revive the four fertilizer factories at an investment of Rs 50,000 crore, he indicated that work on which had come to a standstill. Of four non-functional fertilizer factories, work on reviving the Ramagundam plan is nearing completion and the unit is ready for urea production.
The Minister said the Centre proposes set up three bulk drug manufacturing parks and four medical devices manufacturing parks.