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Odisha's Bhadrak district to get textile park
07
Mar '16
In an exercise to boost the textile sector, the Odisha government plans to set up an integrated textile park in Bhadrak district with an investment of Rs 70 crore, the Business Standard has reported.

"The proposed park will be developed over 112 acres of land in Bhadrak district. We have sent a detailed project report to the textile ministry to grant funds under the Scheme for Integrated Textile Parks (SITP)", the newspaper quoted an official of Idco (Odisha Industrial Infrastructure Development Corporation), the land acquisition arm of the state government, as saying.

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. The park is expected to house about 22 apparel manufacturing units.

The project cost will be funded through a mix of equity or grant from the ministry. According to SITP guidelines, the Central Government's support will be limited to 40 per cent 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. (SH)

Fibre2Fashion News Desk – India

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