In order to establish PM Mega Integrated Textile Region and Apparel (PM MITRA) Park, the Madhya Pradesh (MP) government may sign a Memorandum of Understanding (MoU) with the Central government in the final week of this month.
The state government will start working on creating a textile park on more than 1,200 acres of land in the Dhar district after signing the Memorandum of Understanding. 15 textile companies are anticipated to sign an agreement to establish their factories in the potential park at first.
The initial formalities are being coordinated and facilitated by the Madhya Pradesh Industrial Development Corporation (MPIDC), an industrial development firm owned by the state government. The creation and operation of the park will be handled by a Special Purpose Vehicle (SPV).
MPIDC officials told media in Indore that an MoU between the Centre and the state government for the mega textile park is expected to be signed in the last week of May.
The officials said that MPIDC is planning to sign MoU with 15 textile companies for investment in the textile Park. MP is getting encouraging response from textile industries willing to invest.
