Transcript Ministry of Food Processing Industries’

Ministry of Food Processing
Industries (MoFPI)
Mega Food Parks Scheme (MFPS)
Pre-Bid Meeting
20.03.2014
As per the Revised Guidelines w.e.f. 10.02.2014
Contents
Contents
of
the
Presentation
1
Background and Salient Features of MFPS
2
Expression of Interest and Evaluation Criteria
3
Experience Sharing and Other Key Points
4
Timelines and Release of MoFPI Grant
MFPS - Background and Salient Features
MFPS: Background and Objectives
 To provide state-of-the-art infrastructure in food processing sector
 Conceptualized on an Industrial Park Model and customized to the need of
food processing sector
 Focus on both backward and forward integration
 Aimed to facilitate in realizing ‘Vision 2015’ of MoFPI
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Trebling the size of the processed food sector
Increasing level of processing of perishables from 6% to 20%
Value addition to increase from 20% to 35%
Share in global food trade to increase from 1.5% to 3
MFPS: Envisaged Outcomes
 Envisaged Outcomes:
 Creation of high quality processing infrastructure
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following a cluster-based approach
To realize MoFPI Vision of 2015
Increased realization for farmers
Wastage reduction
Capacity building of producers and processors
Creation of efficient supply chain
Employment creation
Mega Food Parks Scheme: An Introduction
 Cluster based approach by ensuring backward and forward
linkages: Essence of “Hub & Spoke” model
 Creation of Enabling Infrastructure along the supply chain
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Creation of Central Processing Center and Primary Processing Centers
Common Facilities and amenities to be assisted
Leverage Investments in food processing units: Approx. 30 per park
Developed plots to be allotted on a long term lease
 Provision of Standard Design Factory and Plug & Play facilities
for Micro and Small Enterprises
 Project to be implemented by Special Purpose Vehicle (SPV)
Salient Features of the Scheme
 Grant Assistance for creation of common infrastructure facilities:
Basic, core processing and non-core infrastructure
 Typical Project Cost envisaged – Rs.110 crore to Rs. 140 crore in
general areas and Rs. 75 crore to Rs. 100 crore in hilly/diff. areas
 Assistance from Ministry
 50% of the eligible project cost limited to Rs 50.00 crore in general areas
 75% of eligible project cost limited to Rs 50.00 crore in difficult & hilly
areas and ITDP notified areas
 Eligible project cost is defined as total project cost minus the cost of land,
pre-operative expenses and margin money for working capital. However,
interest during construction (IDC) as part of preoperative expenses and fee
to Project management Consultant (PMC) up to 2 percent of the approved
grant would be considered under eligible project cost.
Eligible Project Components in MFP
 Core Processing Common Facilities
 Central Processing Center: Sorting and grading, Packaging, Dry warehouses,
Specialized storage facilities, Pre-cooling and Ripening chambers, IQF, Cold
chain infrastructure, Steam generation & sterilization units, QC Lab etc.
 Primary Processing Centers: Sorting and grading, dry warehouses, cold stores
including pre-cooling, reefer/collection vans etc
 At least 25% of the eligible project to be allocated to above
 Should have features that may be used my more than one unit in the Park
and should be capital intensive
 Factory Buildings/SDF Sheds
 Provision For MSEs – A maximum of 10% of total allotable area for setting up
Standard Design Factory Sheds for MSEs
 Plug and play infrastructure
Eligible Project Components in MFP
 Enabling Basic Infrastructure
 Roads, drainage, water supply, electricity supply including captive power
plant, ETP & STP, weighbridges etc
 Cost of captive power plant, not exceeding Rs.10 Crore, shall be considered
as eligible project cost for grant assessment (source and business plan to
come out clearly at EoI/DPR preparation stage)
 Non–core Infrastructure
 Admin buildings, training centers, canteen, workers hostel, trade/display
center etc:
 Cost not exceeding 10% of the eligible project cost would be eligible for
grant purpose
Nature of Permissible Units
 The spirit of the Guidelines of the Mega Food Parks Scheme is to
facilitate setting up of only food processing industries
 Accordingly, only food processing industries that make food
products fit for human/animal consumption may be permitted to be
set up in the Mega Food Parks
 Also, packaging facilities of food products as ancillary to the food
processing industries may also be allotted land in the Mega Food
Parks
Mega Food Park Model: Illustration
Farmer Groups
Self Help Groups
Individual farmers
Field Collection Centers
PPC
Domestic sales
and exports
PPC
Mega
Food Park
CPC
PPC
PPCs:
Pre-cooling, Grading
pulping Sorting, waxing,
packing ,
Temporary storage
CPC:
Pulping, Aseptic packing,
CA chamber, Cold Store
QC lab, Logistics center
etc
Domestic
Retail sales
Constitution of Special Purpose Vehicle (SPV)
 Responsibility of execution, ownership & management of the project with SPV
 State Government/ State Government entities/Cooperatives applying for
the project under the scheme will not be required to form a separate SPV
 Anchor Investor in the SPV holding majority stake, with or without other
promoters of the SPV, will be required to set up at least one food processing
unit in the park with an investment of not less than Rs. 10 crore
 The Anchor Investor will have at least 51% stake in such processing unit(s).
 State Government/ State Govt. entities/ Cooperatives will not be required to set up
processing unit(s) in the park
 Unit to be completed and commissioned along with the MFP
 Preference to be given to those SPVs which focus on processing of perishables
Contd. ..
 SPV shall be a body corporate registered under the Companies Act
 In case of State Government/State Government entities/Cooperatives
implementing the project, registration not necessary
 Promoter holding maximum equity in the SPV - lead promoter. Lead promoter
will be responsible for overall co-ordination with all stakeholders & Ministry
 Combined net worth of the promoters/proposed shareholders of SPV should not
be less than Rs.50.00 crore
 Each member in SPV must have a net worth at least 1.5 times of his/her
proposed equity contribution
Contd. ..
 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 i.e. North East Region including Sikkim, J&K, Himachal Pradesh,
Uttarakhand and ITDP notified areas of the States. (desired that entire
promoters’ contribution not only in the form of land)
 Central Government agencies becoming shareholders in the SPV can only hold
up to 26 percent of equity in the SPV
 No such restriction on State Govt./ State Govt. entities/ Cooperatives
 Lease rentals and user charges to be put up on website and be made available to
Ministry
 No selling of plots and facilities allowed. Plots can only be leased out
Key Roles of SPV
 As implementing Agency, SPV responsible for the following:
 To formulate the DPR & execute the project in a transparent, efficient and
timely manner
 To procure land and ensure external infrastructure linkages for the projects.
 To obtain key statutory approvals/clearances including environmental
clearances, which are prerequisite for commencement and operation of the
Project
 To achieve financial closure and ensure completion of project
 To own and manage the common infrastructure in the Park
 To receive the financial assistance under the Scheme, and its utilization in a
transparent and judicious manner and maintain proper accounts
 To maintain proper accounts and manage facilities after commissioning of
project
Program Management Agency (PMA)
 Assist MoFPI in disseminating Scheme related information and &
sensitizing potential stakeholders
 Assist the Ministry in selection of Projects
 Inviting Expression of Interest for projects under the Scheme
 Evaluation/appraisal of proposals received in response to EoI
 Appraisal of the DPRs
 Assist the Ministry in release of grant to SPVs
 Assist SPVs in financial closure
 To assist in the evaluation amendments to the projects/DPRs
 Monitor & report the progress of the Mega Food Park projects to
the Ministry- Web-based MIS & Monitoring and site visits
IL&FS Cluster Development Initiative Ltd. and Grant Thornton are the PMAs for the Scheme
Project Management Consultant (PMC)
 PMC to be appointed by the SPV
 PMC to be selected from list of Professional Agencies empanelled by MoFPI
 SPV to enter into a MoU with PMC as per format approved by MoFPI
 PMC charges (not exceeding 2 percent incl. taxes) part of eligible project cost
 PMC to assist SPV in
 Preparation of DPR including detailed design and engineering for the project
 Preparation of BOQs and Bid Process Management in procurement of
contractors/equipment suppliers
 Achieving requisite clearances before commencement of construction
 Construction supervision and monitoring implementation of project
 Assist SPV in release of GoI grant, duly ensuring requisite documentation
 SPV has the option of sub-letting. However, sub-letting to be done through PMC
only
Land for the Project
 Minimum Area Requirement for CPC: 50 Acres (contiguous)
 The extent of land required for establishing the CPC is estimated to be
between 50- 100 acres, though the actual requirement of land would depend
upon the business plan of investor(s), and may also vary from region to region
 SPV shall procure at least 50 acres of land (industrial purposes) for the project
either by purchase or on lease of at least 25 years
 The registered value of such land would be taken as part of the project cost and
contribution/share of the SPV
 The GoI grant shall not be used for procurement/purchase of land
 Proposals /Projects having ownership and possession of suitable land with
Change in Land Use (CLU) for the project will be given preference
Selection Process of Projects under MFPS
Submission of EoI
30.04.2014 by 5 PM
along with Rs.
10.00 lakh as EMD
Evaluation of EoI
In-Principle Approval
Submission of DPR and other requisite documents
Appraisal of DPR
Final Approval to Project by IMAC
Release of GoI grant
Contents of the EoIs
Profiles of the Promoters of the SPV
• Name and brief profiles of the promoters of the SPV
• Nature of existing operations of the promoters
• Financials: Audited BS of last 3 years/CA certified Net Worth Certificates for
individuals. In case of companies, statutory auditors may certify
• Experience of the promoters related to food processing industry and infrastructure
development along with their specific strength for implementing the project
• Details of the SPV, in case it is already registered along with the shareholding pattern
Contents of the EoIs.. Contd.
Profile of the Proposed Project
• Rationale for the selection of the proposed catchment area
• Agri and horti profile of state along with the production analysis of the catchment area
defining the agricultural produce along with the marketable surplus.
• Proposed area for CPC, PPCs and CCs along with tentative layouts
• Details about the site in terms of connectivity and availability of basic infrastructure
including power, water, approach road etc.
• Details of the components proposed at CPC and PPC along with the rationale for the
selection of facilities in terms of Raw material availability and market.
• Details of the components proposed in Basic Enabling Infrastructure & Non Core
Infrastructure.
• The details of the components should include area required, Capacities and costs.
• Proposed Supply chain to ensure supply of raw material for the CPC.
• List of tentative units expected in the proposed MFP.
• Estimated turnover, Employment and Investment details from the project.
• Details about the units to be set up by the Anchor Investor in the park
• Desired that at least 10% of eligible project cost is envisaged for PPCs and CCs
Contents of the EoIs.. Contd.
Proposed Financials and Business Plan
• Summary of estimated costs of each of the eligible components of the project.
• Proposed Project Cost and Means of Finance to fund the project.
• Details about the tie-ups with the financial institutions/Banks for the financial closure of
the project.
• Proposed Business Plan –Estimated revenue sources and assumptions, Estimated
operating costs and assumptions, Projected profit and loss statements, balance sheets
and cash flows based on these assumptions
• Key financial indicators such as IRR, DSCR
Evaluation of EoIs
 Appraisal by the Ministry/PMA and evaluation on a scale of 100
Points
 Independent evaluation by Technical Committee (TC), constituted
as per Scheme Guidelines, on a scale of 50 Points
 Based on combined evaluation of the Ministry and the TC,
recommendations to be placed before Inter-Ministerial Approval
Committee (IMAC), constituted as per Scheme Guidelines
 In-Principle Approval by Inter-Ministerial Approval Committee
(AC)
 Envisaged that SPV does not propose drastic changes in
shareholding, project cost and project components b/w IP and FA
Scoring Parameters for PMA
#
1
1a
1aa
1ab
1ac
1b
1ba
1bb
1c
1ca
1cb
1cc
2
2a
2b
2c
Criteria
Viability of the Cluster
Adequate volume of raw materials/days of operation in a year
200 to 250 days
251 to 300 days
More than 300 days
Mix/variety of raw materials
5 to 10 crops
More than 10 crops
Agreement/arrangements of raw materials
Absence of backward linkages (strategy/proof not given)
Proposed backward linkages (Copy of MoU/Agreements provided)
Existing backward linkages in the proposed cluster (Copy of MoU/Agreements
provided)
Proposed Investment in Core Processing Facilities
Up to Rs. 50 Crores
Rs. 50 Crores to Rs. 100 Crores
More than Rs. 100 Crores
Maximum Score
15
5
2
3
5
5
3
5
5
0
3
5
10
5
8
10
Scoring Parameters for PMA
#
3
3a
3b
3c
3d
3e
3f
4
4a
4b
4c
5
5a
5b
5c
5d
Criteria
Possession of appropriate land
Land identified, but not acquired
Agreement to Sale/Purchase of more than 50 acres of Land
More than 50 acres of land available with one or more promoters
Allotment letter from State Govt. Agencies to the SPV or its member(s)
Complete title and possession of more than 50 acres of land in the name of SPV
Complete title and possession of more than 50 acres of land in the name of SPV
along with CLU
Investment by Anchor Investor in Food Processing Unit(s)
Up to Rs 10 crore
Rs 15 crore or more
Rs 20 crore or more
Cumulative Net Worth of Promoters/Shareholder of the SPV
Rs. 50 Cr to Rs. 100 Cr
Rs. 101 to 150 Cr
Rs. 151 to 200 Cr
More than Rs. 200 Cr
Maximum Score
25
0
5
10
15
20
25
10
0
05
10
20
5
10
15
20
Scoring Parameters for PMA
#
6
6a
6b
6c
7
7a
7b
7c
Criteria
Focus on perishables in Core Processing facilities at CPC and PPCs
Less than 30 percent of total investment in Core Processing facilities
30 to 50 percent of total investment in Core Processing facilities
50 percent or more of total investment in Core Processing facilities
Investment in PPCs as percentage of total eligible Project cost
Less than 10 percent
10 percent and more
20 percent and more
Total Points
Maximum Score
10
0
5
10
10
0
5
10
100
Scoring Parameters for TC
#
Criteria
1
2
3
4
5
6
Details of Promoters and their total Net worth
Details of Land & its Location
Viability of Cluster and Linkages
Proposed Revenue Model
Proposed Investment
Special Strength & USP of Proposal
Total
Maximum Score
10
10
10
10
5
5
50
In-principle Approval
 Selected applicants, based on combined evaluations and approval
of IMAC, accorded In-principle approval
 Selected applicant/SPV must meet all conditions for Final Approval
including submission of Detailed Project Report within 6 months from the
date of according “In-Principle Approval”
 In case the above timelines are not met, “In-Principle Approval” accorded
in that case shall stand automatically cancelled, unless extension of time is
granted by IMAC.
Final Approval Pre-requisites
Final Approval to the Project
 Conditions for Final Approval
 Submission Detailed Project Report as per format prescribed by MoFPI
 Incorporation and registration of SPV and execution of share subscription agreement
 Submission of proof for possession of land by SPV as per DPR along with
Permission for Change in Land Use (CLU) for Industrial Purpose
 Term Loan sanction Letter from Bank, along with the Project Appraisal Report
 Proof of appointment of Project Management Consultant. The PMC for the project
should be selected only from the Ministry’s empanelled agencies.
 The above conditions, in total, may be met within 6 months of In-principle Approval
and requisite documents may be submitted to MoFPI
 Approval Process
 Appraisal of DPR and requisite documents by PMA
 Scrutiny by Technical Committee (TC)
 Final Approval by Inter-Ministerial Approval Committee (AC)
Detailed Project Report (DPR)
 Submission of Detailed Project Report (DPR) consisting of technical,
commercial, financial and management aspects of the project -
 Brief note on Scheme appreciation
 Promoter details – shareholding, experience, financials (net worth certificates,
balance sheets etc), reasons for interest in the project. For NW, details on SSA slide
 Cluster analysis: production, arrivals, availability of raw materials for the Park
 Site details – location, connectivity, legible contour mapping, site analysis for
element like soil analysis, flood history, onsite features etc. for realistic cost estimate
of land development and construction
 Master planning along with sectional drawings and building plan
 Project cost detailed break up (heads in later slide) along with eligible project cost
calculation, means of finance (in sync with term loan). Project cost may undergo
change from EoI stage. However, should be as per Guidelines
 Civil costs certified by Chartered Engineer, cost of plant and equipment backed with
quotations from equipment and machinery suppliers
Detailed Project Report (DPR)
Detailed Project Report (DPR)
Detailed Project Report (DPR)
Detailed Project Report (DPR)
Detailed Project Report (DPR)
Key Points on DPR
 Advisable to submit within 4 months so that Ministry feedback can be incorporated
 Net worth to be considered as on of before EoI submission (However, updated
financials may be submitted for record)
 Supporting documents like contour survey, soil investigation report, CE certified cost
estimates and quotations for plant and equipment equally important
 Precise master planning factoring on existing on site features
 Comprehensive cluster mapping and concrete details of backward linkages (PPCs –
buy land or take facilities on lease). Indicative details of marketing the project may
also be provided
 Project cost bifurcation to be given in stipulated format (will be shared by Ministry in
due course)
 Financial Model: Should be based on well thought out assumptions. The interest rates
in the model should be in sync with term loan rates
Incorporation of SPV and SSA Execution
 Certificate of Incorporation to be submitted
 Name change certificate (if applicable)
 MoA and AoA documents to be submitted (clearly stating the company
objectives)
 Ministry prescribed SSA format to be used (copy will be shared)
 Shareholding to be worked out keeping in mind EoI stage NW
 No drastic changes permissible. Examples: Omitting lead promoter, drastically
reducing shareholding of lead promoter and food processor(s) members
 SSA to be duly signed by all entities
Project Land
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Key reason for delay. Hence, should be given priority
At least 50 acres of contiguous land required
CLU for industrial use a must
In case of land acquired by SPV on lease basis, the leased period should be for a
minimum of 25 years.
 Check for various approvals that may be required (indicative list being provided)
 Check for sub-lease permission from state government. Sub-leasing of plots to
food processors an important component of the Guidelines
 Detailed location mapping – connectivity, approach road etc a must
 Water and power availability at the site (in sync with project demand)
 Site visit to be undertaken by PMA
Bank Sanction and PMC Appointment
 Bank sanction is also a time consuming exercise
 On most occasions, sanction follows the land registration. Hence, time
management a must
 Bank sanction amount and interest rates should be in sync with Means of
Finance and Financial Model of the DPR
 Bank appraisal note submission also a condition. At times bank may consider the
DPR prepared by the SPV
 PMC should be from the list of empanelled agencies (list given at the end of the
Scheme Guidelines)
 PMC to be appointed by the SPV – PMC Agreement prescribed format will be
shared
 Any sub-letting (in addition to PMC) to be done by PMC and not by the SPV
directly
 Roles and Responsibilities of PMC highlighted earlier
Role of State Government
 State government nominee to be on the SPV Board
 Providing assistance to SPVs in procurement of suitable land.
 Providing all the requisite clearances, wherever needed, for setting up the MFP
and its components thereof and providing the necessary assistance for Power,
Water, Approach roads and other external infrastructure to the project
 Providing flexible and conducive labour environment and consider special
facilities like exemption of stamp duty, VAT/Sales Tax exemption etc. for the
MFP and the units located in the MFP
 Assist in obtainment of any other benefits as per the state’s Industrial / Food
Processing Policy
Dovetailing of Assistance
 Considering the complexities and challenges associated with a supply chain
linked infrastructure projects of this nature, the SPV may dovetail assistance
available under various other schemes of Central and State Governments, which
would improve the viability of the projects.
 While dovetailing such assistance, it will be ensured that there is no
duplication of assistance for the same component/activity of the project.
Learnings and Focus Areas
Learnings and Focus Areas
 Scheme guidelines earlier required only in-principle approval for
term loan component before Final approval
 Led to significant delays as in most cases formal sanction of term loan took more
than 6 months even as SPVs awaited this sanction before going ahead with project
construction and award of contracts
 Revised Guidelines have made sanction of term loan along with
submission of bank appraisal report - a pre-requisite for Final
Approval
 Expected to improve the quality of Detailed Project Reports being submitted by
SPVs and make them more realistic
 Likely to assist Ministry/PMA in further appraisal and approval exercise
 Likely to significantly reduce the project implementation period
Learnings and Focus Areas
 Scheme Guidelines earlier provided for release of 10 % of
approved grant as advance after final approval and SPVs providing
proof of equity contribution of 10 %
 Did not require SPVs to incur any expenditure except for land acquisition
 Revised guidelines require expenditure certificate for at least 10 %
of eligible project cost
 SPVs now required to incur expenditure on project components, in addition to land
and pre-operative expenditure, before receiving any grant
Learnings and Focus Areas
 Further, for all grant installments, earlier Guidelines only required
UC for grant released and proportionate expenditure to be incurred
by SPV
 Revised Guidelines require, in addition, proof of proportionate
contribution by SPV equivalent to the percentage of grant to be
released
 Likely to assist in smooth project implementation by ensuring availability of
matching contribution from SPVs in advance before release of grant
 Grant installments now also linked to clear and proportionate
physical progress on all project components, including on PPCs,
SDF sheds and leasing units
 Likely to assist in more holistic development of projects
Revisions
in MFPS
Guidelines
(w.e.f 17.11.2011)
Learnings
and
Focus Areas
 More flexibility in SPV formation
 Greater objectivity in evaluation criteria
 Greater involvement of State Govt. for effective project
implementation
 Redefining the eligible Project Cost for grant eligibility
 Provision of higher weightage to proposals with land available
upfront
Timelines and Grant Release
Overview
 The time schedule for completion and operationalization of project will be 30
months from the date of release of 1st instalment unless extended by IMAC for
the reasons to be recorded.
 SPV shall make all possible efforts to complete the projects as per the stipulated
timelines In case of non-adherence, except in case of force de majeure or reasons
beyond the control of SPV, the IMAC may consider imposing appropriate
penalty in terms of reducing the grant amount, on case to case basis.
 Ministry will periodically review the progress of the projects itself and through
the PMA
 In so far as interpretation of any of the provisions of these Guidelines is
concerned, the decision of the IMAC shall be final.
Release of Grant
First Installment of 30 percent of total grant under the Scheme will be released subject to
fulfilment of following criteria:
• Establishment of Trust and Retention Account and signing of the TRA, Agreement with any
Schedule - A Commercial Bank and Regional Rural Banks (RRB). Draft TRA Agreement,
clearly giving mode of account operation and duties/responsibilities of lending bank, SPV
and PMC, would be shared by the Ministry with SPV.
• Appointment of Ministry’s Nominee Director on the Board of the SPV. Representative of
State Government will be appointed as a nominee of the Ministry. Tenure of the Ministry
nominee will be co-terminus to the operationalization of the project.
• Proof of increase in authorized capital of SPV to allow stipulated equity contribution as per
approved means of finance for the project.
• Expenditure certificate from Chartered Accountant confirming expenditure of at least 10
percent of the eligible project cost.
• Award of contracts worth at least equivalent to 30 percent of total project cost including at
least 20 percent of approved components of basic enabling infrastructure.
• Recommendation of PMA confirming the fulfilment of above conditions.
Release of Grant
Second Instalment of 30 percent of total grant under the Scheme will be released subject
to fulfilment of following criteria:
• Utilization Certificate for the 1st instalment.
• Proof of proportionate expenditure by SPV (including term loan and equity) of the eligible
project cost equivalent to percentage of grant released as 1st instalment.
• Proof of proportionate contribution by SPV (including term loan and equity) in TRA
account, of the eligible project cost equivalent to percentage of grant to be released as 2nd
instalment
• Submission of documents in lieu of proof of possession of land for all PPCs along with
construction schedule.
• Proof of commencement of construction of Standard Design Factory sheds for SMEs.
• Recommendation of PMA confirming the fulfilment of above conditions.
Release of Grant
Third Instalment of 20 percent of total grant under the Scheme will be released subject to
fulfilment of following criteria:
• Utilization Certificate for the grant released as 2nd instalment.
• Proof of proportionate expenditure by SPV (including term loan and equity)of the eligible
project cost equivalent to grant released as 2nd instalment.
• Proof of proportionate contribution by SPV (including term loan and equity) in TRA
account, of the eligible project cost equivalent to percentage of grant to be released as 3rd
instalment.
• Certificate from PMC confirming completion of at least 40 percent of construction of PPCs
and proof of expenditure of at least 40 percent of the total proposed cost for PPCs as per
approved DPR
• Certificate from PMC confirming completion of at least 50 per cent construction of
Standard Design Factory sheds for SMEs
• Proof of allotment of at least 25 per cent of total allocable plots.
• Recommendation of PMA confirming the fulfilment of above conditions.
Release of Grant
Fourth and final Instalment representing 20 percent of approved grant assistance will be
released to SPV subject to successful completion of project and commencement of
operations. The criteria for completion of project are as follows:
• Utilization Certificate for the grant released as 3rd instalment.
• Proof of expenditure of 100% envisaged contribution of SPV including term loan and
equity o n the approved project components.
• Certificate from PMC confirming completion of the project as per approval.
• Proof of allotment of at least 75 percent of total allocable plots and commencement of
operations in at least 25 percent of the units.
• Completion and Commissioning of the Processing unit (s) of the Anchor Investor in the
Park.
• Recommendation of PMA confirming the fulfilment of above conditions.
Thank You
Contact Us
Ministry of Food Processing Industries
Niraj Kumar Gayagi
Director
Phone: 011- 26491808
Email: [email protected]
Ritwik Bahuguna
IL&FS Clusters Development
Initiative Ltd.
Phone: 9971000250
Email:
[email protected]
Kunal Sood
Director
Business Advisory Services
Grant Thornton India LLP
Phone: 99711 99600
E [email protected]