The Central Government recently approved to build a plastic park at Ganjimutt, Managaluru, Karnataka. The park will be created at Rs 62.77 crores. It is to be built by the Karnataka Industrial Areas Development Board (KIADB)

Fund allocation

Of the total estimated cost of 62.77 crores of rupees, the union government will share 50%, that is, 31.38 crores of rupees. The rest of the 50% is to be borne by the KIADB.

What is the plan?

The KIADB will be create a special purpose vehicle under its purview to implement the project. Also, KIADB is the major promoter.

Ifs and Buts in the project

The Central Government, that is, the Ministry of Chemicals and Fertilizers has set a criteria in the project implementation. If the project is not completed within three months, the resources allocated will be re – allocate to other deserving projects.

About the Plastic park

• The park is to generate hundreds of employment for the local youths.
• A poly propylene unit is to be set up in the park. This unit will provide raw materials to the polymer and plastic units inside the park. Polypropylene is a thermoplastic polymer. It is mainly used in plastic packaging.
• Also, the park will help reduce transport costs. This is because, 32 companies are to be established within the park. This includes entrepreneurs from other districts as well.
• The park will include admin building, export building, warehouse facility, etc.