GIDC to construct PM Mitra Park in Navsari

Surat, July 13 (KNN) Chief Minister Bhupendra Patel and Union Minister of Commerce and Industry Piyush Goyal on Thursday will sign a MoU for the setting up of PM Mega Integrated Textile Regions and Apparel (PM MITRA) park in Navsari district of Gujarat.

The Gujarat Industrial Development Corporation (GIDC) will develop the PM Mitra Park in Navsari.

The land for the same, in an area of 462 hectares, has been allocated to the GIDC by the state government, in accordance with the guidelines of the Centre.

The PM Mitra Park will come up at Vansi-Borsi village on nearly 462 hectares of land.

The Government of India has approved the establishment of seven PM MITRA parks for the textile industry in seven states namely Gujarat, Maharashtra, Tamil Nadu, Telangana, Karnataka, Madhya Pradesh and Uttar Pradesh.

PM Mitra Park will lead to the establishment of world-class industrial infrastructure to attract large-scale investment, including Foreign Direct Investment (FDI). In addition, it will also encourage innovation and job creation within the textile and its allied sector.

The state will get an estimated investment of Rs 10,000 crore and generate 2-3 lakh direct and indirect employment in the textile and its allied sector.

The Gujarat government is in the process of creating a Special Purpose Vehicle (SPV) for the construction of this park.

The state government will have 51% equity and the central government will have 49% equity.  (KNN Bureau)