Mangaluru: Union Ministry of Chemicals and Fertilizers, Department of Chemicals and Petrochemicals, has given Final Approval to set up a plastic park Feather ganjimutto In Dakshina Kannada,
The project will be implemented by a Special Purpose Vehicle (SPV) incorporated by the Karnataka Industrial Area Development Board (KIADB) with a total project cost of Rs 62.8 crore, including a central grant of Rs 31.4 crore.
Thanking Prime Minister Narendra Modi, Union Minister of State for Chemicals and Fertilizers Bhagwant Khuba and Chief Minister Basavaraj Bommai, Dakshina Kannada MP Nalin Kumar Kateel He said that the plastic park to be built on 104 acres will help in generating employment.
The park for Mangaluru was announced in 2015 when Ananth Kumar was the Minister of Chemicals and Fertilizers. As a minister, DV Sadananda Gowda had given in-principle approval for the plastic park in January 2021, and directed the Department of Commerce and Industry. Karnataka will submit a detailed project report on this.
Dharam Veer, Under Secretary to the Government of India, in a letter to KIADB CEO N Shivshankar, said that the central grant for the project is subject to compliance with the guidelines issued by the Department of Chemicals and Petrochemicals. “KIADB, being the prime promoter for the project, will facilitate the implementation of the project, and guarantee financial closure for the project within one year of final approval. The SPV will complete the setting up of the Plastic Park within the time-limit provided in the scheme guidelines, unless an extension is granted by the Department of Chemicals and Petrochemicals. If the project is not taken up within a responsible period from the date of approval, the Plan Steering Committee may withdraw the approval, so that the limited resources available under the scheme can be reallocated to other eligible projects. ,
The project will be implemented by a Special Purpose Vehicle (SPV) incorporated by the Karnataka Industrial Area Development Board (KIADB) with a total project cost of Rs 62.8 crore, including a central grant of Rs 31.4 crore.
Thanking Prime Minister Narendra Modi, Union Minister of State for Chemicals and Fertilizers Bhagwant Khuba and Chief Minister Basavaraj Bommai, Dakshina Kannada MP Nalin Kumar Kateel He said that the plastic park to be built on 104 acres will help in generating employment.
The park for Mangaluru was announced in 2015 when Ananth Kumar was the Minister of Chemicals and Fertilizers. As a minister, DV Sadananda Gowda had given in-principle approval for the plastic park in January 2021, and directed the Department of Commerce and Industry. Karnataka will submit a detailed project report on this.
Dharam Veer, Under Secretary to the Government of India, in a letter to KIADB CEO N Shivshankar, said that the central grant for the project is subject to compliance with the guidelines issued by the Department of Chemicals and Petrochemicals. “KIADB, being the prime promoter for the project, will facilitate the implementation of the project, and guarantee financial closure for the project within one year of final approval. The SPV will complete the setting up of the Plastic Park within the time-limit provided in the scheme guidelines, unless an extension is granted by the Department of Chemicals and Petrochemicals. If the project is not taken up within a responsible period from the date of approval, the Plan Steering Committee may withdraw the approval, so that the limited resources available under the scheme can be reallocated to other eligible projects. ,
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