The Union Government has given the final approval for setting up a plastic park at Ganjimutt in Mangaluru, according to Nalin Kumar Kateel, MP.
The park will be set up on 104 acres of Karnataka Industrial Areas Development Board (KIADB) land at an estimated cost of ₹62.77 crore. In that, 50% of the project cost, that is ₹31.38 crore, will be borne by the Union Government and the remaining 50% by the KIADB, he said in a statement here on Friday.
A special purpose vehicle ncorporated by the KIADB will be set up to take up the project. The Union Ministry of Chemicals and Fertilisers conveyed the final approval accorded, to the KIADB on January 21, Mr. Kateel said. The KIABD will be the key promoter of the project.
Mr. Kateel said he would thank Prime Minister Narendra Modi, Union Minister for Chemicals and Fertilisers Bhagwanth Khuba, Chief Minister Basavaraj Bommai and Minister for Heavy Industries Murugesh Nirani for supporting the project in Mangaluru. The former Union Minister for Chemicals and Fertilisers D.V. Sadanana Gowda too had supported the project, he said.
The Union Government had given in-principle approval for setting up the park at Ganjimutt in January last.
The Ministry’s January 21 letter said: “... In case if the project is not started within a reasonable period of time, say three months from the date of sanction, the Scheme Steering Committee may withdraw the sanction so that the limited resources available under the scheme could be re-allocated to other deserving projects.”
