Mega Food Parks
The Mega Food Park project is implemented by a special purpose vehicle (SPV) which is a body corporate registers under the companies Act. However, state government, State government entities and cooperatives are not required to form a separate SPV under the revised guidelines. Possession of at least 50 acres of contiguous land by the SPV for the CPC with conversion for industrial/ infrastructure use is required. Subject to fulfillment of the conditions of the scheme guidelines, the funds are released to the SPVs.
Pattern of assistance:
|Components||Pattern of assistance|
|% of Grant||Maximum limit|
|General areas||50% of Eligible project cost||Rs. 50 crore per project|
|Difficult and hilly areas i.e. (North eastern region)||75% of Eligible project cost||Rs. 50 crore per project|
Release of Grant:
The grant-in-aid under the scheme is released in four installments of 30%, 30%, 20% and 20%, subject to other scheme parameters.
|1||Final Approval to release of 1st installment||6 months|
|2||1st installment to release of 2nd installment||8 months|
|3||2nd installment to release of 3rd installment||8 months|
|4||3rd installment to release of 4th and final installment||8 months|