Work on proposed PM MITRA Park gains pace in Madhya Pradesh: Officials.

The Madhya Pradesh government has signed a deal with the Centre to soon form a special purpose vehicle (SPV) for a 1,563-acre mega textile park in Dhar district, a senior industry department official has said.

While the state government will have a 51 per cent stake in the SPV, the Centre will hold 49 per cent. The state signed the memorandum of understanding with the Centre on May 21. 

Currently, basic facilities like electricity, water, and roads are being arranged for the proposed PM Mega Integrated Textile Region and Apparel (MITRA) Park, according to the officials.

About 25 industries have already given investment proposals of worth Rs. 7,000 crore. The officials said the project would generate around 200,000 direct and indirect employment.

Under this project, mega parks like this will also come up in Tamil Nadu, Gujarat, Uttar Pradesh, Karnataka, Telangana, and Maharashtra. The central government is providing development capital assistance of Rs. 500 crore to greenfield PM MITRA Parks for basic infrastructure, along with an incentive for investors on a first-come-first-serve basis of Rs. 300 crore per park.

BS