The Central Government plans to develop seven mega industrial estates in the Ludhiana Textile Park at the cost of Rs 4,445 crore
The ambitious industrial project, which has been approved under the PM Mitra scheme, will be set up over 1,000 acre at KoomKalan village in the industrial capital of the state as a joint venture between the Centre and Punjab.
The project will be established over a period of five years up to 2027-28 at the cost of Rs 4,445 crore, which has been approved under the scheme.
A special purpose vehicle (SPV) with 51 per cent equity from the Punjab Government and 49 per cent from the Central Government will be set up by the state government for implementing the PM Mitra scheme project. The state government will transfer the land at notional price to the SPV.
Under the Competitive Incentive Support (CIS), an outlay of Rs 300 crore has been earmarked for Textile Park, which will be incurred towards giving incentive at the rate of 3 per cent of sales turnover of manufacturing facilities in the park on first-come first-serve basis.
Putting an incentive capping, the government will offer Rs 10-30 crore for investment over Rs 300 crore, Rs 5-15 crore for investment between Rs 100-300 crore, and Rs 1-3 crore for investment of less than Rs 100 crore with an employment generation of over 100 employees.
The Ministry of Textiles will develop model RFQ, RFP and concession agreement for selection of master developer in parallel with preliminary selection of sites with the assistance of PMA.
