Yogi Adityanath government 2.0 today signed a memorandum of understanding (MoU) with the Centre for setting up of a 1,000 acre Textile Park.
The Rs 1,200 crore Park will come up in the adjoining land of Lucknow and Hardoi districts. The MoU was signed in the presence of union commerce and industry, and textile minister Piyush Goyal.
The project is expected to attract private investment of Rs 10,000 crore and generate 300,000 direct and indirect job opportunities. It will be set up under the PM Mega Integrated Textiles and Apparel (PM Mitra) scheme. A special purpose vehicle (SPV) will be established for the proposed Textile Park.
The MoUs were also exchanged among various private investors including Aditya Birla Group, GSL Spinners, Azum Denim Cart, Abhikim Textile, SVM, Josis India, MLK Export and Path Thread.
In his speech, Yogi thanked Prime Minister Naerndra Modi for awarding the project to UP and noted it would revive UP’s rich textile heritage and make it a ‘textile hub’ of India.
The CM said the state has received investment proposals of Rs 35 trillion and the government is now working to launch projects of Rs 10 trillion in the coming months.