The Cabinet Committee on Economic Affairs (CCEA) Thursday approved the setting up of 12 new mega food processing parks at a cost of Rs.1,714 crore, a statement said.
According to the statement, the projects have to be completed in 30 months from the date of final approval.
The move would help in development of adequate infrastructure in the supply chain for the food processing sector which would result in reduction of wastage of agri produce and give remunerative price to the farmers.
Each mega food park will have 30-40 industries and will generate about 40,000 direct and indirect jobs, said the statement.
The CCEA also approved implementation of a scheme of integrated cold chain, value addition and preservation infrastructure during 12th Plan with an allocation of Rs. 786 crore, said the statement.
Under the scheme, an entrepreneur is eligible for grant-in-aid up to 50 percent of cost of plant and machinery and technical civil works in general areas and 75 percent in North East and hilly areas subjected to a maximum of Rs. 10 crore, said the statement.