Scheme for Setting Up of Plastic Parks, Government Of India Grant fund


Ministry

Ministry of chemicals and fertilisers

Description

This scheme helps for the setting up of need-based Plastic Parks, an eco-system with requisite state-of-the-art infrastructure and enabling common facilities to assist the sector move up the value chain and contribute to the economy more effectively. The the grant will be given to the Special Purpose Vehicle (SPV) set up by the State Government or any of its agencies such as State Industrial Development Corporation (SIDC) in association with user enterprises representing the plastic sector/sub-sector.

Sponsored By

Central Government of India

Objective

Requisite state of the art infrastructure and enabling common facilities to assist the sector

Eligibility

Special Purpose Vehicle formed by the State Government or its agency such as State Industrial Development Corporation or any equivalent state entity as identified and recommended by the respective State Government in association with user enterprises representing the plastic sector/sub-sector

The SPV will ordinarily be a company registered under the Companies Act 1956 and any other structure.

Beneficiaries

Benefits

Government of India would provide grant funding up to 50% of project cost subject to a ceiling of Rs.40 crore per project. The remaining contribution in the SPV will be from the State Government or State Industrial Development Corporation or similar agencies of State Government, beneficiary industries and loan from financial institutions. The equity contribution of the State Government or respective SIDC shall be at least 26% of cash equity of the SPV (excluding the value of any land given as equity).

How To Apply

A Udyami Helpline: Dial 1800-180-6763 [Toll Free Number] for queries relating to this Schemes.

Contact to :

The Department of Chemicals and Petrochemicals will call for preliminary proposals from State Governments interested in setting up of plastic parks. The State Government or its agency such as State Industrial Development Corporation or any equivalent state entity as identified and recommended by the respective State The government shall submit the preliminary proposals.

Status

Active

Sector

Chemicals and Fertilisers



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