The Centre would provide up to Rs 50 crore subsidy under the mega food park scheme.
According to an official statement, MITS Mega Food Park Pvt Ltd at Rayagada was inaugurated today.
"This is the 7th Mega Food Park operationalised in the last three years by the present government," it said.
Petroleum Minister Dharmendra Pradhan and Minister of State for Food Processing Sadhvi Niranjan Jyoti were present at the event.
Badal said the mega food park has been set up on a 50.05 acre plot at a cost of Rs 80.17 crore. The Centre has provided a financial assistance of Rs 50 crore to the park.
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Badal said the modern infrastructure for food processing created at MITS Mega Food Park will benefit the farmers, growers, processors and consumers of Odisha.
"Mega Food Park will benefit not only the people of Rayagada but also those in the adjoining districts of Nabarangpura, Ganjam and Khordha," she said.
Badal further said that the Mega Food Park will leverage an additional investment of about Rs 250 crore in 25-30 food processing units in the park and generate a turnover of about Rs 450-500 crore annually.
The Centre is implementing the Mega Food Park Scheme in the country to give a boost to the food processing sector by adding value and reducing food wastage.
These parks create modern infrastructure facilities for food processing along the value chain from farm to market, the statement said.
"Common facilities and enabling infrastructure is created at Central Processing Centre and facilities for primary processing and storage is created near the farm in the form of Primary Processing Centers (PPCs) and Collection Cenres (CCs)," it added.