Chief minister Naveen Patnaik on Monday laid the foundation stone for a Rs 104 crore mega food park at Bhujbul, about 15-km from Rayagada in south Odisha. The project being promoted by the MITS Group, is expected to be completed in a year.
“It’s a good project. The project can create employment for around 30,000 people directly and indirectly,” chief minister Naveen Patnaik said after laying the foundation stone.
The food processing unit is being constructed by the MITS Mega Food Park Private Limited, a special purpose vehicle (SPV). MITS, a leading education group, is the lead promoter of the project with 51 per cent stake.
The other partners are state controlled Odisha Infrastructure Development Corporation (Idco), Keventer Agro Limited (KAL) and Expo Biotech — a research organization with shareholding of 18 per cent, 26 per cent and five per cent respectively.
BK Panda, chairman of MITS Group said, “The project would be completed in a year. Punjab National Bank (PNB) has provided term loan for the project, while the technical-know-how is provided by a New Delhi-based organisation.”
Almost all the agriculture and horticulture products, including the minor forest products would be processed in the park for export purposes.
Besides, the other infrastructure facilities like cold storage, effluent treatment plant (ETP) and storage and packing system will also be available in the park. “The project will establish Odisha as an international destination in the food processing industry,” Panda said.
The project was accorded in-principle approval by the Central government on April 29, 2011, while the final approval came through on April 16, 2012. A grant of Rs 50 crore has been approved for the project against an approved cost of Rs 80.17-crore.
