Plastic Industry Current Affairs
The Union Ministry of Chemicals & Fertilizers has approved proposal of setting up of Plastic Park in Deoghar District, Jharkhand. The project will be set up at cost of Rs.120 crores in an area of 150 acres. Moreover, it will also set up Central Institute for Plastic Engineering & Technology (CIPET) and Plastic Recycling unit at Deoghar.
The plastic park will manufacture range of polymer products including woven sacks, moulded furniture, water tanks, bottles, pipes mosquito nets, etc. It will have great potential for attracting investment for setting up ecosystem for plastic industry and generate employment opportunities for the local populace.
The project is likely to provide direct employment generation to about 6000 people and indirect employment to over 30000 people. Jharkhand Government will facilitate land and building infrastructure for this project and also to set up Central Institute for Plastic Engineering & Technology (CIPET) alongside the park.
The plastic industry is growing at rapid pace and polymer consumption in India will double from current 10 million metric tonnes to 20 million metric tonnes by 2022. The Plastic Park, CIPET and Plastic Recycling unit at Deoghar will build an ecosystem that will encourage setting up of Plastic Industry, thereby making it ‘Plastic Hub’ in the future.