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    Scheme Overview - Mega Food Park - Client Purpose Only

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    The document outlines the Mega Food Park scheme sponsored by India's Ministry of Food Processing Industries. The scheme aims to establish modern food processing infrastructure through clusters containing collection centers, primary processing centers, and a central processing center along with cold chain facilities. It will provide subsidies up to 50% of eligible project costs to special purpose vehicles set up by private/state promoters to develop the food parks. The parks must be completed and operational within 30 months to qualify for the grant payments.

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    Scheme Overview - Mega Food Park - Client Purpose Only

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    91 views2 pages
    The document outlines the Mega Food Park scheme sponsored by India's Ministry of Food Processing Industries. The scheme aims to establish modern food processing infrastructure through clusters containing collection centers, primary processing centers, and a central processing center along with cold chain facilities. It will provide subsidies up to 50% of eligible project costs to special purpose vehicles set up by private/state promoters to develop the food parks. The parks must be completed and operational within 30 months to qualify for the grant payments.

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    Mega food park details

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    Scheme Overview- Mega Food Park - Client Purpose Only

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    The document outlines the Mega Food Park scheme sponsored by India's Ministry of Food Processing Industries. The scheme aims to establish modern food processing infrastructure through clusters containing collection centers, primary processing centers, and a central processing center along with cold chain facilities. It will provide subsidies up to 50% of eligible project costs to special purpose vehicles set up by private/state promoters to develop the food parks. The parks must be completed and operational within 30 months to qualify for the grant payments.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    91 views2 pages

    Scheme Overview - Mega Food Park - Client Purpose Only

    Uploaded by

    No name
    The document outlines the Mega Food Park scheme sponsored by India's Ministry of Food Processing Industries. The scheme aims to establish modern food processing infrastructure through clusters containing collection centers, primary processing centers, and a central processing center along with cold chain facilities. It will provide subsidies up to 50% of eligible project costs to special purpose vehicles set up by private/state promoters to develop the food parks. The parks must be completed and operational within 30 months to qualify for the grant payments.

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    MEGA FOOD PARK

    Scheme Overview

    Sponsoring Authority : MoFPI (Ministry of Food Processing Industries)

    Effective Date : 21.07.2016

    Last date to apply : 31.05.2020


    Objectives:

    1. To provide modern infrastructure facilities for the food processing along the value chain from the farm
    to the market.
    2. It will include creation of processing infrastructure near the farm, transportation, logistics and
    centralized processing centres.
    3. The main feature of the Scheme is a cluster-based approach.
    4. The scheme will be demand-driven and will facilitate food processing units to meet environmental
    and safety standards.
    5. The expected outcome is increased realization for farmers, creation of high-quality processing
    infrastructure, reduction in wastage, capacity building of producers, processors and creation of an
    efficient supply chain along with significant direct and indirect employment generation.

    Eligibility criteria for SPV / Implementing Agency (IA):

    1. SPV shall be a body corporate registered under the Companies Act.


    2. The promoter holding maximum equity in the SPV will be the lead promoter.
    3. The combined net worth of the promoters/proposed shareholders of SPV should not be less than
    Rs.50.00 crore.
    4. The SPV needs to bring in at least 20 percent of the total project cost as equity in general areas and at
    least 10 percent of the total project cost in difficult and hilly areas.
    5. Central Government agencies becoming shareholders in the SPV, can only hold up to 26 percent of
    equity in the SPV. However, there will be no such restriction on State Govt./ State Govt. entities/ its
    Cooperatives.
    6. SPVs / IAs are not permitted to sell the plots in MFP, The plots can only be given on lease.
    7. The common facilities in the park cannot be sold or leased out. They can only be offered to units on
    rental basis.

    Eligibility of the scheme:

    1. Mega Food Parks Scheme is to facilitate setting up of only food processing industries.
    2. Only food processing industries that make food products fit for human / animal consumption may be
    permitted to be set up in the MFP.
    3. Packaging facilities of food products as ancillary to the food processing industries will also be eligible
    for setting up in the Mega Food Parks.
    Core Processing Facilities Components of the scheme: The scheme aims to facilitate the establishment of
    a strong food processing industry backed by an efficient supply chain, which includes

    a. Collection Centres (CCs)


    b. Primary Processing Centres (PPCs)
    c. Central Processing Centre (CPC) and Cold Chain infrastructure.

    Non-Core Infrastructure:

    1. Administrative buildings
    2. Training centre including equipment
    3. Trade and display centre
    4. Crèche, Canteen
    5. Worker’s hostel
    6. Offices of service providers, labour rest and recreation facilities, marketing support system, etc.

    Means of Finance:

    Sl. No Particulars %
    1. Contribution of SPV as Equity in Mega Food Park 20%
    2. Contribution of State Govt/State Govt Agencies in Mega Food Park 10%
    3. Subsidy 50%
    4. Term Loan 20%
    Total 100%

    Pattern of Assistant:

    General areas – 50% Eligible Project Cost

    Difficult and Hilly areas – 75% Eligible Project Cost (Maxi Subsidy– 50 crores per project)

    Eligible Project Cost = Total project Cost - (Cost of Land + Pre- Operative Expenses & Interest during
    Construction + Margin money for working Capital)

    Release of Grant:

    a. 1st Instalment - 30% of approved grant (after incurring expenditure of at least 10% of the eligible
    project cost)
    b. 2nd instalment - 30% of approved grant
    c. 3rd instalment - 20% of approved grant
    d. 4th instalment - 20% of approved grant is released subject to successful completion of project and
    commencement of operations.

    Time Schedule: (For completion and operationalization of project)

    • Within 30 months from the date of final approval

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