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Textile Parks Get Green Light for Rs 20,000 Cr Investment
28 Jun
Summary
- Two PM MITRA parks approved, attracting Rs 20,000 crore investment.
- Each park to create 100,000 direct and 200,000 indirect jobs.
- Projects in UP and Gujarat to be developed under PPP model.
The Public Private Partnership Appraisal Committee (PPPAC) has approved two public-private partnership projects under the Centre's PM MITRA scheme. These projects, one in Lucknow, Uttar Pradesh, and the other in Vansi, Gujarat, are poised to attract a combined Rs 20,000 crore in investment for the textile sector. The approved bid documents signal the commencement of the bidding process for these greenfield integrated textile parks.
Each park will be developed by private entities using the Design, Build, Finance, Operate and Transfer (DBFOT) model, establishing integrated manufacturing ecosystems across the textile value chain. These initiatives are projected to create approximately 100,000 direct and 200,000 indirect jobs per park, with concession periods extending up to 50 years.
The Lucknow park will span 1,000 acres with an estimated Rs 1,946.92 crore capital expenditure for core infrastructure. The Gujarat park, covering 1,142 acres, has an estimated cost of Rs 3,209 crore for civil infrastructure and utilities. The PPPAC recommended enhancements to the concession framework, including eligibility criteria and performance milestones, to ensure sustained development.
