The Union Cabinet cleared a Rs 3,030 crore scheme, BHAVYA-Rasayan, on Friday for setting up three dedicated Chemical Parks, with Prime Minister Narendra Modi chairing the meeting.
The scheme allocates Rs 3,000 crore for common infrastructure facilities and basic utilities within the parks, and Rs 30 crore for administrative expenses.
The Centre will provide a grant of up to Rs 1,000 crore per park, subject to a minimum contribution of Rs 500 crore from the concerned state government.
Each park will require a minimum contiguous area of 8 square kilometres, or about 2,000 acres, of encumbrance-free land.
First announced in the Union Budget for FY 2026-27, the scheme will be implemented over five years through FY 2030-31, aiming to integrate India’s chemical industry into global value chains and reduce import dependence.
The parks are intended to offer plug-and-play infrastructure with shared facilities for chemical manufacturers.
(Image: Rajiv Nair EIL (CC BY-SA 4.0))
