Odisha sends Idco's sea food park proposal to Centre

The state government has recommended to the Centre a proposal by its PSU, Odisha Industrial Infrastructure Development Corporation (Idco), to set up a sea food park at Deras in Khurda district.

The sea food park has been planned on an area of 100 acres at an estimated cost of Rs 116.43 crore, inclusive of the land cost, which is calculated at the rate of Rs 5 lakh per acre. The sea food park will be set up under the Mega Food Park Scheme of the Government of India and is expected to fulfill the long standing demands of exporters and other stakeholders.

“Idco is a Odisha government company engaged in creating industrial infrastructure for the state.

The corporation has expertise for development of industrial parks. As the nodal department dealing with food processing industry in the state, the present proposal is strongly recommended for approval under the revised Mega Food Park scheme notified on February 10, 2014”, Panchanan Dash, secretary, MSME (micro, small & medium enterprises) wrote to Nirak Kumar Gayagi, director, Union ministry of food processing industries (MoFPI).

The state MSME department has agreed to provide all fiscal incentives to the sea food park developer under Odisha Food Processing Policy, 2013.

Within the sea food park, the expenditure towards basic enabling infrastructure will be Rs 36.60 crore while core processing facilities including buildings, plant & machinery and miscellaneous fixed assets are estimated to cost Rs 49.44 crore.

The project will be financed by a mix of equity contribution from the promoters, bank finance and grant assistance from MoFPI and Odisha government.

The promoter would contribute 26.13 per cent of the total project cost that includes 24.62 per cent equity (Rs 28.63 crore) and 1.5 per cent margin money (Rs 1.74 crore).

The proposed sea food park would facilitate qualitative and quantitative development of the sea food processing industry.

Its objectives are integration of supply chain to provide fishermen market linkages, showcase state's potential and investment opportunities, demonstrate best management practices, highlight successful business models, address supply chain and infrastructure related issues, increase income levels of fishermen b y linking them with demand side of the food chain and provide a platform for industry interaction and trade facilitation.