Food park project to yield Rs 500cr

Written By Unknown on Sabtu, 09 Maret 2013 | 22.23

MUMBAI: The ministry of agriculture and food processing industries has so far approved 30 mega food park projects out of which 14 projects have been accorded 'final' approval and the remaining 16 projects have been accorded 'in-principle' approval.

Out of the 14 projects which have been accorded 'final approval', two projects in Andhra Pradesh and Uttarakhand are partially operational while two others in Assam and West Bengal are nearing completion, according to information provided by the ministry.

Five more projects, one each in Punjab, Jharkhand, Karnataka, Gujarat and Tripura are expected to be completed in 2013-14, while the remaining five projects in the states of Madhya Pradesh, Bihar, Odisha, Tamil Nadu and Maharashtra are likely to be completed in 2014-15.

The ministry said on an average, each project is expected to have around 30-35 food processing units with a collective investment of Rs 250 crore that would eventually lead to an annual turnover of about Rs 450-500 crore and creation of direct and indirect employment to the extent of about 30,000 persons.

The new mega food park scheme provides for both forward and backward linkages. The minimum land requirement has been enhanced in the new scheme from 30 acres to 50 acres. The maximum grant admissible is Rs 50 crore in case of a mega food park.

The mega food park projects are implemented by special purpose vehicle (SPV) which comprises at least three independent members including at least one food processor. The mega food park scheme, according to the ministry, operates on a hub and spoke model in which central processing centre is net worked with primary processing centres and collection centres.

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