The Madhya Pradesh Industrial Development Corporation (MPIDC), the state government owned industrial development company, is coordinating and facilitating the initial formalities. A Special Purpose Vehicle (SPV) will be responsible for development and functioning of the park. MPIDC officials told media in Indore that an MoU between the Centre and the state government for the mega textile park is expected to be signed in the last week of May.
The officials said that MPIDC is planning to sign MoU with 15 textile companies for investment in the textile Park. MP is getting encouraging response from textile industries willing to invest.
The state government has started chalking out the development plan for the park in consultation with industry and stakeholders. MPIDC officials indicated that the park would have all advanced facilities catering to the needs of the industry. It will have residential apartments for workforce, common facility, logistics and commercial spaces among other facilities.
The park will provide plug and play facilities, training centre, logistics, commercial space, and health services apart from basic and advanced industry requirements. A land parcel of more than 1,200 acres has been earmarked in Bhainsola village of Dhar district in MP for the purpose.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
