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| Development of Leather Park under ILDP | | October 23, 2009 (India) |  |
The Cabinet Committee on Economic Affairs approved a sub-scheme titled “Development of Leather Park” with an allocation of Rs.300
crore under Indian Leather Development Programme (ILDP).
The outlay of Rs.300 crore would include implementation charges @
3% of the total outlay of Rs.300 crore i.e. Rs.9 crore. The aim of the sub-scheme is to provide the industry with infrastructure facilities for setting up leather units across product categories
at one place in an organized manner and to attract large domestic,joint venture and foreign investments into the Indian Leather Industry.
A leather Park set-up under this sub-scheme would cover all sectors of Leather Industry – tannery, all products categories and leather machinery. A Special Purpose Vehicle (SPV) will have to be set up by entrepreneurs for development and management of park and would be the recipient of the assistance under the Scheme. The SPV would be a company registered under Section 25 of the Companies Act, 1956.
The Scheme would provide a grant of 50% of the expenditure for the common infrastructure, capacity building and engineering and construction supervision subject to a ceiling of Rs.40 crore per park. No support would be provided for land and land development.
A Project Monitoring Consultant (PMC) would be appointed for effective implementation, monitoring and evaluation of the projects under the scheme.
The Scheme would lead to development of infrastructure for the sector,would address environment concerns specific to the sector,
and would facilitate additional investment, employment generation
and increase in production. | | | | Press Information Bureau | |
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