The Govt of India’s scheme of setting up plastic parks in India has started gaining momentum. So far, the Govt. has approved six plastic parks in the country: two in Madhya Pradesh and one each in Odisha, Jharkhand, Tamil Nadu and Assam. According to the latest information, two parks have achieved 100% progress in terms of development of physical infrastructure.

The two parks which have achieved 100% progress are: Tamot Plastic Park in Madhya Pradesh and Paradeep Plastic Park in Odisha. 

Tamot Plastic Park was approved in 2013 with a total project cost of Rs. 108 crores. The plastic park has completed 100% physical infrastructure in 2020. The authorities have allotted 8 plots in the park to the industry and one unit is already functional in the plastic park.

Paradeep Plastic Park, Odisha was approved in 2013 with a total project cost of approximately Rs. 107 crores. The plastic park has almost completed 100% physical infrastructure in 2020. The authorities have allotted 7 plots in the park to the industry.

The Government scheme aims at setting up of need based plastic parks, an ecosystem with infrastructure and enabling common facilities through cluster development approach, to consolidate and synergize the capacities of the domestic downstream Plastic Processing industry. The larger objective of the scheme is to contribute to the economy by increasing investment, production, expo (in the sector and also generation of employment.

Under the scheme, the Government of India provides grant funding up to 50% of the project cost, subject to a ceiling of Rs. 40 crore per Plastic Park project. The remaining project cost is funded by the state government or state industrial Development Corporation or similar agencies of state government, beneficiary industries and loan from financial institutions.