Plastics Park project likely to gain traction

A meeting to take stock of the proposed industrial park for plastics unit near Hyderabad will be convened shortly by the Centre’s Department of Chemicals and Petrochemicals.

“I will be taking a review meeting in the next couple of months... definitely like to support to the best extent possible,” P. Raghavendra Rao, Secretary to the Department, told a gathering of entrepreneurs in the city on Monday.

He was participating in a curtain-raiser conference organised by industry body FICCI and the Department for ‘India Chem 2018’ international exhibition and conference to be held in Mumbai from October 4-6.

Responding to an observation made by earlier speaker and plastics industry leader Anil Reddy Vennam on how the project is pending for want of Central government budgetary assistance, the senior official said he would call a meeting of all officials concerned.

Later, in a brief interaction with media, he said the project, as per a policy, is eligible for a Central assistance of ₹40 crore, which would be released in phases.

Besides the project near Hyderabad, the Department would also hold review meetings on similar facilities proposed by seven to eight States, Mr. Raghavendra Rao added.

A senior official of Telangana State Industrial Infrastructure Corporation said the State government had submitted a proposal on the plastics park about two years ago.

The facility is to be established on 120 acres in Ibrahimpatnam, on the outskirts of Hyderabad. The State government, he added, would be investing a sum similar to that the Centre makes on the project.