UP Cabinet Approves ₹1,947-Crore Textile Park and Water Schemes
· India · The Hindu, Moneycontrol
The Uttar Pradesh Cabinet approved Ramky Infrastructure as the preferred bidder to develop a 1,000-acre PM MITRA Mega Textile Park on the Lucknow-Hardoi border at an estimated cost of ₹1,947 crore. Chaired by Chief Minister Yogi Adityanath, the Cabinet also cleared expenditure proposals for seven drinking water and sewerage projects across Lucknow and Varanasi. The textile park will be implemented through a special purpose vehicle where the state government holds a 51 percent stake and the Centre holds 49 percent, with central financial assistance of up to 30 percent capped at ₹500 crore. State officials stated that the project is expected to attract private investment and generate direct and indirect employment for approximately one lakh people. The land has been leased to the special purpose vehicle for 99 years at a nominal rate of ₹1 per acre per year.
Why it matters
The textile park project aims to boost manufacturing investment and create around one lakh jobs in Uttar Pradesh while upgrading urban water and sewerage infrastructure in Lucknow and Varanasi.
Read the original report — The Hindu
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.