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Sagarmala project can enable Odisha to emerge as major logistics destination, says Naveen Patnaik

Sagarmala project can enable Odisha to emerge as major logistics destination, says Naveen Patnaik ANI | Updated: Apr 08, 2021 10:43 IST Bhubaneswar (Odisha) [India], April 8 (ANI): OdishaChief MinisterNaveen Patnaik on Wednesday chaired the first meeting of the State Sagarmala Committee and said that the project can further enable Odisha to emerge as a major logistics destination. The Port-led development through industrialisation and connectivity is a major focus of Sagarmala projects. We will also be prioritising the Coastal community development as an integrated part of this initiative, said Patnaik. The Sagarmala Project has a vision for port-led development across the coast of India. It aims at port modernisation, port connectivity, port led industrialisation and coastal community development. The projects under this program will get 50 per cent funding from the Centre.

Indian Oil Corp, IDCO sign MoU for Paradip Plastic Park in Odisha

The state-run Odisha Industrial Infrastructure Development Corporation (IDCO) and Indian Oil Corpration Limited (IOCL) on Tuesday signed a Memorandum of Understanding (MoU) to develop a plastic park in Paradip, officials said. As per the MoU, Indian Oil announced a special strategic incentive scheme to attract investments in downstream polymer industries at Paradip Plastic Park. An incentive of Rs 2000 for each metric tonne of polypropylene granules from Paradip Refinery shall be offered to the manufacturing units located in the Paradip Plastic Park till March 31, 2030. Around 26 units are expected to come up at the plastic park with an estimated investment of Rs 500 crore and it is likely to generate 6,000 direct and indirect employment.

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