TEXTILE PARK

MoU signed for MP’s mega textile park; to draw investment of Rs. 6,850 Cr

Published: May 25, 2023
Author: DIGITAL MEDIA EXECUTIVE

In the Dhar district of Madhya Pradesh (MP), India’s textiles minister Piyush Goyal has formally started the process of building a second Mega Textile Park. 6,850 crores of rupees are expected to be invested in the textile park. A memorandum of understanding (MoU) for the textile park was signed by the state and federal administrations on Sunday during a ceremony. At Gandhwani in the Dhar district, Goyal and state chief minister (CM) Shivraj Singh Chouhan lay the PM Mitra Park’s cornerstone.

Goyal expects an additional 8,675 crore to be invested in the state’s other regions. An MoU was signed by CM Chouhan and minister Goyal to formally establish the textile park, which will be built out over 1,200 acres of land over the following five years.

DuringThe chief minister of Madhya Pradesh thanked Prime Minister Narendra Modi for the PM Mitra Textile Park, calling it an amazing gift for the state. He predicted that the textile park will provide jobs for over 200,000 people. The park is a tremendous chance for the textile industry in Madhya Pradesh, according to Darshana Vikram Jardosh, the minister of state (MoS) for textiles, who made the comment on this occasion. In the projected park, several textile companies signed agreements to open plants, and about 150 investors from all over India were there.

The park’s closest port, Hazira, is 452 kilometres away and is located 110 km from Indore, 85 km from the Pithampur Industrial Cluster. Power will be provided by the Madhya Pradesh Industrial Development Corporation (MPIDC) at 4.50 per hour. unit and water at 25 cents per KL from the Mahi Dam. The park is anticipated to provide 50,000 people with direct employment, 150,000 people with indirect jobs, and benefit the broader Malwa region.

The MPIDC, an industrial development firm controlled by the state government, is coordinating and facilitating the early steps. The creation and management of the park will be under the control of a Special Purpose Vehicle (SPV). The park will have cutting-edge facilities that respond to the demands of the sector, including workforce housing apartments, a communal facility, logistics and commercial spaces, as well as other amenities. In addition to meeting both fundamental and complex industry requirements, it will offer plug-and-play facilities, a training centre, logistics, commercial space, and health services.

The new Mega Textile Park, according to a tweet from the prime minister, at Dhar district in Madhya Pradesh will strengthen Make in India and will create new job opportunities for the youth. He said that the park will open new doors for the growth of the state.

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