The Odisha government to give a boost to its textile sector plans to develop an integrated textile park over 112 acres of land in Bhadrak district. A detailed project report of the proposed park has been sent to the textile ministry to grant funds under the Secheme for Integrated Textile Parks (SITP) said an official of Idco (Odisha Industrial Infrastructure Development Corporation), the land acquisition arm of the state government.
The proposed park at Bhadrak which is expected to house about 22 apparel manufacturing units will involve investment to the tune of Rs 70 crore. Idco which will develop the sector specific park has sought Rs 21 crore from the Centre as grant under the scheme for major infrastructure development for the park.
As of now Idco will develop the park, if required, a special purpose vehicle may be constituted , added a source.
The SITP scheme launched in 2005 is aimed to encourage private investments and employment generation in textile sector by facilitating world class infrastructure for common facilities, such as roads, water supply treatment and distribution network, power generation and distribution network, effluent collection treatment and disposal system, design centre, warehouse, first aid centre, etc.
The project cost under the scheme will be funded through a mix of equity or grant from the ministry. The Government of India, as per the scheme guidelines, support will be limited to 40 percent of the project cost with a maximum ceiling of Rs 40 crore for parks.
The scheme targets industrial clusters with high growth potential, which require strategic interventions by way of providing world-class infrastructure support. The project cost will cover common infrastructure and buildings for production and support activities depending on the needs of the integrated textile park.
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