New Delhi, Nov 28 (KNN) Punjab government on Monday signed 50 MoUs with a total investment of Rs. 1200 crore to set up plastic clusters in the state.

The state had been seeking to develop plastic industry clusters in Sangrur, Patiala, Bathinda and Ludhiana, Punjab Chief Minister Capt. Amarinder Singh said after signing the MoUs.

The Chief Minister highlighted the initiatives taken by the government to promote industry in the state.

He added that elimination of truck cartel and industrial power tariff at 5 per unit effective from 1 November, 2017 would enable industry to compete in the market

The Chief Minister also released a document titled "Investment Opportunities in the Plastic Sector", unveiling the government’s plans to promote investment in the plastic sector for the MSME Plastic Processing Units.

He also noted that that the HMEL’s World Class Cracker & Petrochemical Complex at Bathinda would boost plastic and related industry in the state.

HMEL had been planning to invest Rs 23000 crore more in the plastics industry would increase the availability of plastic raw materials and help in the proliferation of plastic processing industry, the chief minister said. (KNN/AG)