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Invest: Mitra Parks secure Rs.18,500cr commitments

Fiinews by Fiinews
January 3, 2025
in Investment
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Five sites get environmental clearance

MoUs with potential of over Rs.18,500 crore investments have been signed while 100% of the required land have been acquired and handed over to Special Purpose Vehicles (SPVs) for the 7 PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites.

To date, the Government has approved these parks with world class infrastructure including plug and play facility with an outlay of Rs.4,445 crore for a period of seven years up to 2027-28, the Ministry of Textile said in a yearend review of 2024 on 1 Jan 2025.

The 7 sites are: Tamil Nadu (Virudhnagar), Telangana (Warangal), Gujarat (Navsari), Karnataka (Kalaburagi), Madhya Pradesh (Dhar), Uttar Pradesh (Lucknow) and Maharashtra (Amravati) https://www.bharat-tex.com/.

Post approval of sites by the Government, the selected States/SPVs have started activities to provide infrastructural facilities like water, power and road till the park gate, said the Ministry https://www.bseindia.com/.

Environment Clearance is available to PM MITRA sites in Gujarat, Uttar Pradesh, Tamil Nadu, Karnataka and Telangana.

The foundation stone of the PM MITRA Park Amravati Maharashtra was laid by Prime Minister Narendra Modi in September 2024 https://www.nseindia.com/.

With a view to boost Technical Textiles in the country, National Technical Textiles Mission (NTTM) was created for a period from 2020-21 to 2025-26 with a fund outlay of Rs.1,480 crore.

The key pillars of NTTM include ‘Research Innovation & Development’, ‘Promotion and Market Development’, ‘Education, Training and Skilling’ and ‘Export Promotion’ https://sbi.com.in/.

The focus of the Mission is for developing usage of technical textiles in various flagship missions, programmes of the country including strategic sectors. Achievement as on date is 168 projects of value Rs.509 crores (approx.) have been approved in the category of Specialty fibers and Technical Textiles. Fiinews.com

Tags: Ministry of Textile
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