CCEA clears implementation of 21 textile parks

Tags: Economy
The Cabinet Committee on Economic Affairs (CCEA) today approved the implementation of 21 integrated textile parks envisaging an investment of Rs 819 crore over the next five years.

"The CCEA approved implementation and issuing financial sanction to the 21 parks sanctioned in the 11th Plan and to carry over the committed liability beyond Rs 200 crore amounting to Rs 819 crore into the 12th Plan (2012-17), in amendment of the approval granted by the CCEA in October 2010," according to an official statement.

The CCEA further approved the adoption of amendments in guidelines of the scheme to improve implementation, it said.

In October 2010, the CCEA approved a proposal for the sanction of additional parks under the Scheme for Integrated Textiles Parks (SITP) to utilise the balance of Rs 200 crore in the 11th Plan. The number of projects was to be limited in such a way that committed liability of the new parks does not exceed Rs 200 crore in the 12th Plan.

Therefore, in accordance with this decision, 21 parks were sanctioned last year.

The objective of the parks is to provide the industry world-class infrastructure facilities for setting up their textiles units.

Also, the scheme would facilitate these units to meet international environment and social standards.

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