Govt to invest Rs 324 cr in AP, Maha food parks

Govt to invest Rs 324 cr in AP, Maha food parks

Two mega food parks projs to be set up in Kakinada, A P and south Maharashtra


The Government said it is setting up two mega food parks at a cost of Rs 324 crore in Andhra Pradesh and Maharashtra under its ambitious Sagarmala project.

"As part of the Sagarmala Programme of the Ministry of Shipping, two mega food parks projects are being implemented in Kakinada, Andhra Pradesh and southern Maharashtra by the Ministry of Food Processing," Ministry of Shipping said in a statement.

The projects are strategically situated in CEZs (Coastal Economic Zone) with proximity to ports and will give boost to the EXIM trade for food processing sector.

The Andhra Pradesh Industrial Infrastructure Corporation mega food park at Krishna with its proximity to Visakhapatnam and Kakinada port will draw its synergies from Vizag-Chennai Industrial Corridor (VCIC) in North Andhra Pradesh, the statement said.

"The total cost of the project is estimated to be Rs 184.88 crore. The other project, Satara Mega Food Park is being set up in the coastal economic zone of South Konkan in Maharashtra with proximity to Dighi, Jaigarh and Marmugao Port. The total cost of the project is estimated to be Rs 139.33 crore and is expected to be completed by February next year," it added.

With the growing global demand of the processed food in India, the food processing sector needs to be efficient in terms of logistic costs, transit costs and infrastructural facilities in order to be competitive, it said.

Considering this need, an integrated plan for port -led -industrialisation has been developed under the Sagarmala Programme in line with global best practices, which combines the growth potential of port-linked industries with the competitive location for various industries, the government said.

The proximity to various ports for these industrial clusters and CEZs will provide necessary infrastructural facilities and connectivity to the hinterland, thus ensuring reduction in logistic costs, the statement said.

Sagarmala is a port-led development plan for coastal areas.

PTI - Aug 05, 2016 12:00 IST