Manufacturers setting up in the Park to get Rs.300cr incentive
Tendering process should start soon on the 1,000-acre PM Mitra Park Lucknow which expects Rs.10,000 crore investment, says Textile Minister Piyush Goyal at the signing of Memorandum of Understanding (MoU) on 18 Apr 2023 for an Integrated Textile Park in Lucknow and Hardoi districts.
Prime Minister Narendra Modi will do the bhumi pujan soon following which tendering process should start thereby ensuring basic amenities like electricity and water supply.
The Lucknow Park will be developed in Public Private Partnership mode through a Special Purpose Vehicle (SPV), which will be owned by the Central and State Governments, he said.
The SPV and master developer will not only develop the industrial park but will also maintain it during the concession period.
The central government will provide development capital assistance of Rs.500 crore to PM Mitra Park Lucknow for the development of common basic infrastructure.
Manufacturing units setting up in the park to get Rs.300 crore incentive.
The Park is 95-km from Dedicated Freight Corridor and Inland Container Depot at Kanpur.
The Park will have an incubation centre, common processing house and a common effluent treatment plant and other textile related facilities like design centre and testing centre.
An Incubation Centre is an organization that helps entrepreneurs to develop their business and solve problems related to it, especially in the early stages by providing arrange of business and technical services, initial seed funding, laboratory facilities, mentorship networks and linkages.
PM Mitra Park Lucknow will strengthen the value chain of the textile sector to become globally competitive.
The Textile Ministry will provide incentives to the manufacturing units to be set up in Park Lucknow on the basis of first come first serve.
A provision has been made by the Ministry to provide Rs.300 crore as incentive to the manufacturing units to be set up in PM Mitra Park Lucknow.
The incentive amount will be 3% of the total annual turnover of the unit. fiinews.com
