CM Yogi thanks PM Modi for PM Mitra Mega Textile Park

Lucknow: Chief Minister Yogi Adityanath has expressed his gratitude to Prime Minister  Narendra Modi for taking the decision to set up PM Mitra Mega Textile Park in Uttar Pradesh.

The Chief Minister said that the PM Mitra Mega Textile Park, which is going to be established in the state under the visionary leadership of the Prime Minister, will give a new identity to the state’s textile industry and will create investment possibilities of crores of rupees and create lakhs of jobs.

Realizing Prime Minister’s ‘5-F’ vision (Farm to Fiber to Factory to Fashion to Foreign) of the textile sector, this textile park will contribute significantly to the achievement of his ‘Make in India’ and ‘Make for the World’ resolution.

It is noteworthy that PM Mitra Mega Textile Park will be established on 01 thousand acres of land in Lucknow and Hardoi districts. Free land will be made available to the Handloom and Textiles Department for the project. About Rs 1200 crore is estimated to be spent on this project.

The park will be developed on PPP mode. There is a possibility of investment of Rs 10 thousand crore under PM Mitra Mega Textile Park. Due to this, about 01 lakh direct and 02 lakh indirect employment will be created.

A Special Purpose Vehicle (SPV) will be constituted for the implementation of PM Mitra Mega Textile Park. For this, a provision of Rs 10 crore (paid up capital) has been made, in which 51 percent share will be from the Uttar Pradesh government and 49 percent from the Government of India. SPV will be formed under the Companies Act-2013.

The Board of Directors of the SPV will have representatives nominated by the Central and State Governments. Additional Chief Secretary/Principal Secretary, Department of Handloom and Textiles, Government of Uttar Pradesh, Chief Executive Officer (CEO) and Secretary Ministry of Textiles, Government of India, New Delhi will be the Chairman in the SPV. The proposed name of the SPV will be ‘Sant Kabir PM Mitra Textile and Apparel Park Ltd.’

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