Page 17 - Plastics News February 2021

AipmA At work

Investment Opportunities in Downstream Plastics & Textiles Industries

in Odisha

IPMA organized a webinar on “Investment opportunities With ready availability of raw material from Paradeep
Ain downstream Plastics and Textiles Industries in Refinery coupled with favourable industry friendly
Odisha” on february 3, 2021 with an aim to highlight ecosystem in Odisha & availability of skilled and low-
the emerging investment opportunities in eastern India, cost manpower, Odisha is poised to witness a faster and
particularly in Odisha, for textiles and plastic processing progressive industrialisation in Plastics & Textiles sectors
industries in the context of an evolving market landscape. in years to come. Indian Oil Corporation Limited (IOCL)
has been playing a pivotal role in the development of
Indian Textiles and Petrochemical sector contribute
significantly to the GDP of our country. These sectors downstream industries in Plastics & Textiles in the State.
serve as enablers of practically every other major sector – The continuous strive to reach out to prospective investors
automobiles, agriculture, infrastructure, hygiene, medical and provide them necessary handholding so that they can
applications, water transportation, food packaging and so take benefit by investing in this sunrise industry.
on. Moreover, plastics and polyester products, by virtue The webinar started with Mr Deepak Ballani, DG - AIPMA,
of being versatile and highly affordable, are the materials introducing AIPMA President – Mr. Chandrakant Turakhia
of choice for the vast majority of India’s population. who gave the welcome address and Chairman Governing
Consequently, the demand for these products has been Council – Mr. Arvind Mehta, set the tone of the program.
growing steadily and the growth momentum is expected Our Speakers for the Day were:
to continue in the long-term.
Shri Dhananjay Srivastava, Executive Director (I/C)-
Eastern region in India, today, has lower per capita
polymer consumption compared to the national average Petrochemicals, IOCL gave the Keynote Address.
and is therefore likely to see an accelerated demand Followed by Presentation on” Investment Opportunity in
growth. Downstream Plastic & Textile Industries in Odisha” by Shri
Dhananjay Sahoo, DGM (Tech Service), IOCL.
Odisha has the unique advantage of having convenient
access to port, availability of skilled manpower and Shri Rajib Dhal GM (SLNA), IPICOL from the Odisha State
proximity to both, raw material sources as well as demand Government was present to inform the people about the
clusters. From an incentive and regulatory support benefits available for the investors from the Government
standpoint, Odisha, amongst the eastern states, has a host of Odisha.
of schemes and initiatives under the industrial policy, and Shri Jayesh Rambhia - Chairman Plastics Parks AIPMA, gave
has seen considerable investments over the last few years. the people present an Industry overview about the pros
Government has envisaged a cluster based approach to and cons of investing in a Plastic Park, he was also the
tap into this opportunity and initiatives to set up a world Moderator for the webinar.
scale textile and Plastics Park in Odisha are well underway.
This program was specially arranged with Indian Oil
With Paradeep Refinery readily providing raw materials Corporation Ltd and Paradeep Plastic Park. After the
and Indian Oil Corporation Limited (IOCL) playing a pivotal presentations by the experts, the floor was left open for
role in the development of downstream plastic and textile Q/A round to provide the participant a direct opportunity
industries in the state, these industries are only further to interact and clear their doubts.
expected to grow to a global market level.
The session ended with the vote of thanks given by Mr.
Indian Oil is coming up with flagship petrochemical projects Ashok Agarwal – VP East AIPMA. The webinar provided
like the MEG, PTA (intermediates for the polyester) at the attendees with details about the opportunities in
Paradeep & Polyester Yarn at Bhadrakh which are in the state and ways to obtain benefit by investing in the
construction stage. Apart from these projects, Indian Oil rising industry.
has planned further investments to rapidly increase its
footprints in petrochemical sector in Odisha.

17 Februar y 2021 Plastics News