CCEA approves modified mega food park scheme guidelines.

The cabinet committee on economic affairs has approved modifications in the mega food park scheme guidelines of infrastructure development for food processing. The move is expected to benefit 6,000 farmers/producers directly and about 25,000 farmers indirectly.

According to the ministry of food processing and industries, the estimated investment in each project will be about Rs. 100 crore in common facilities and will leverage an additional investment of about Rs. 250 crore. The expected annual turnover of each park will be Rs. 500 crore and in each project, about 30 food processing units are expected to be setup.

The infrastructure development scheme for mega food parks, the ministry said, aims at providing modern infrastructure facilities for food processing industries along the value chain from farm to market. According to the scheme, ownership and management of the mega food park vests with a special purpose vehicle (SPV) in which organized retailers, processors and service providers may be the equity holders or there may be an anchor investor along with its ancillaries, associated companies and other stakeholders.

TOI