Plastics & Polymers GAIL Gets New Plastic Park of the Ground
GAIL has signed Memorandum of Understanding (MoU) with UPSIDC, the local State agency for developing industries and industrial infrastructure, for the development of its new Plastic Park at Auraiya, Uttar Pradesh. This agreement was signed by Prabhat Singh, Director (Marketing), GAIL and Manoj Singh, Managing Director, UPSIDC in the presence of B C Tripathi, Chairman & Managing Director, GAIL.
New Delhi/India – GAIL is in advanced stage of augmenting its polymer capacity from its petrochemical Complex in UP from 4.1 lakh tonnes to 9 lakh tonnes per annum. UPSIDC initiative of setting up industrial belt for plastic processing units shall provide the much needed boost to overall economic development of this region. UPSIDC is scheduled to float a Special Purpose Vehicle (SPV) for the development of this industrial park. The total area earmarked for this industrial belt is about 314 acre and UPSIDC has already made substantial investment towards cost of land and its development for bringing up this industrial hub.
For the growth and development of these industrial units, GAIL shall contribute towards regular supply of raw material at competitive market price, provide technical support to plastic processors, establish polymer warehouse to cater to the needs of the industrial units. UPSIDC plans to provide entire basic infrastructure viz. land at attractive rates, road transport arrangement, water supply and adequate safety & security to the prospective industrial units in this plastic park.