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PM Park Likely In Odisha

Bhubaneswar: Odisha will be benefited as the Union Government has approved the setting up of 7 PM MITRA Parks in the country.

In fact the State Government has expressed its interest for an Integrated Textile Region and Apparel Park with Government of India.

PM MITRA is inspired by the 5F vision of Prime Minister Narendra Modi. The ‘5F’ Formula encompasses – Farm to fibre; fibre to factory; factory to fashion; fashion to foreign.

This integrated vision will help furthering the growth of textile sector in the economy. No other competing nation has a complete textile ecosystem like us. India is strong in all five Fs.

The 7 Mega Integrated Textile Region and Apparel Parks (PM MITRA will be setup at Greenfield / Brownfield sites located in different willing States. Proposals of State Governments having ready availability of contiguous and encumbrance-free land parcel of 1,000+ acres along with other textiles related facilities & ecosystem are welcome. 

Several states such as Odisha, Tamil Nadu, Punjab, Andhra Pradesh, Gujarat, Rajasthan, Assam, Karnataka, Madhya Pradesh and Telangana have expressed interest

 Maximum Development Capital Support (DCS) of Rs.  500 crore to all Greenfield PM MITRA and a maximum of ₹ 200 Crore to Brownfield PM MITRA  will be provided for development of Common Infrastructure @30% of the Project Cost and Rs. 300 Crore of Competitiveness Incentive Support (CIS) will also be provided to each  park for early establishment of textiles manufacturing units.

 State Government supports will include provision of 1,000 Acre land for development of a world class industrial estate.

For a Greenfield  park, the GOI Development Capital Support will be 30% of the Project Cost, with a cap of Rs.500 Crore.

 For Brownfield sites, after assessment, Development Capital Support @30% of project cost of balance infrastructure and other support facilities to be developed and restricted to a limit of Rs. 200 Crore. This is in a form of viability gap funding to make the project attractive for participation of private sector.

The Park will have Incubation Centre & Plug & Play facility, Developed Factory Sites, Roads, Power, Water and Waste Water system, Common Processing House & CETP and other related facilities e.g. Design Centre, Testing Centres , Workers’ hostels & housing, logistics park,  warehousing, medical, training & skill development facilities

 The Park will be developed by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode. The Master Developer will not only develop the Industrial Park but also maintain it during the concession period. Selection of this Master Developer will happen based on objective criteria developed jointly by State and Central Governments.

SPV in which State Government has majority ownership will be entitled to receive part of the lease rental from developed industrial sites and will be able to use that for further expansion of textiles industry in the area by expanding the Park, providing Skill Development initiatives and other Welfare measures for workers.

Government of India will also provide a fund of Rs. 300 Crore for each Park to incentivize manufacturing units to get established. This will be known as Competitiveness Incentive Support.

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