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Punjab signs 50 MoUs to boost plastic industry

Punjab chief minister said his government will seek the Centre’s assistance under Plastics Parks Development scheme to develop infrastructure for the industry.

punjab Updated: Nov 27, 2017 21:13 IST
Press Trust of India, Chandigarh
Amarinder Singh,Punjab plastic industry,Punjab cabinet
Punjab chief minister Capt Amarinder Singh(HT File)

Giving a fillip to its industrial development agenda, the Punjab government on Monday signed 50 MoUs, with a total investment of Rs 1200 crore, for the upcoming plastic clusters in the state, an official statement said here.

Chief minister Capt Amarinder Singh, in whose presence the MoUs were signed here, said the Congress government had already taken various initiatives, including elimination of truck cartels, to aid industrial development.

The chief minister released a document titled “Investment Opportunities in the Plastic Sector”, outlining the government’s plans to promote investment in the plastic sector and the fiscal incentives for the MSME Plastic Processing Units, the release said.

He said the government was mulling 50 per cent reduction in fixed charges of power for the industry.

Singh added that industrial power tariff of Rs 5/unit would be effective from November 1, 2017, as was announced by the state government.

Amarinder lauded the HMEL’s World Class Cracker and Petrochemical Complex at Bathinda, which he said would open up vast opportunities in the plastic processing, plastic machinery, additives and related industries in Punjab.

HMEL has already invested Rs 32,000 crore in the state and is planning to invest of Rs 23,000 crore more, which will facilitate Punjab’s industrial development, the chief minister was quoted as saying. He added that the increase in availability of plastic raw materials would offer immense opportunities of exponential growth to the plastic processing industry.

The state sought to develop plastic industry clusters in Sangrur, Patiala, Bathinda and Ludhiana, Singh said.

The chief minister assured the plastic industry of full support in getting clearances at the district level by setting up a single-window system at the district level under the deputy commissioner.

He further said his government will seek the Centre’s assistance under Plastics Parks Development scheme to develop infrastructure for the industry.

The MoUs, signed today by the department of industries and commerce, envisage the creation of about 6,000 jobs, the release said.

First Published: Nov 27, 2017 21:12 IST