NEW DELHI: Baba Ramdev's Patanjali Ayurved on Tuesday mentioned it is pulling out of its proposed Rs 6,000-crore mega meals processing mission along the Yamuna Expressway in Uttar Pradesh, citing non-cooperation from the state government.
However, the UP government mentioned it has given another month to Patanjali to satisfy the conditions required to get the overall approval.
The Yamuna Expressway Industrial Development Authority (YEIDA) may not get the desired clearances for switch of land from the state government, mentioned a best corporate reputable.
The Hairdwar-based corporate had proposed to invest up to Rs 6,000 crore to set up a plant in 425 acres of land at YEIDA to cater the home and export markets thru its step-down firm Patanjali Food & Herbal Park.
Confirming the development, Patanjali Ayurved Managing Director Acharya Balkrishna advised PTI: "We are cancelling the project as we did not get required clearances from the UP state government."
The corporate now plans to shift the mission to some different state, he mentioned without disclosing additional main points.
Citing the reason for pulling out of the state, he mentioned, "We did not get any cooperation from the state government for this project. We have waited for long time for the clearances but could not get from the state government. Now we have decided to shift the project."
Patanjali was given one-month extension by way of the Ministry of Food Processing Industries till end of June to get the needful clearances to begin the mission.
When contacted Food Processing Secretary J P Meena advised PTI:" Patanjali was given four months time to meet the conditions required to get the final approval. There are four to five conditions, including land and bank loans, which any party that wants to set up mega food park has to fulfil."
Meena additional mentioned, "We have not cancelled the project. We have given one month extension to Patanjali... they have to meet the condition. In case, Patanjali does not meet the condition, we have no choice but to cancel. We have done it earlier in many projects."
Patanjali had already got support from the financial institutions for the mission, Balkrishna claimed.
"We got extensions two times from the Ministry of Food Processing Industries and now it (time) is lapsing as we could not get the required clearances from the state government," Balakrishna mentioned.
Mega meals parks are to be applied inside 30 months and fiscal assistance is equipped to them by way of the central government.
Earlier, Patanjali had mentioned that its Yamuna Expressway-based plant would produce goods worth Rs 25,000 crore annually, if it runs to its complete capacity.
It would create 10,000 direct jobs, Patanjali had mentioned.
Patanjali is at the moment investing in mega meals park initiatives, together with Nagpur (MP) and Tejpur (Assam).
However, the UP government mentioned it has given another month to Patanjali to satisfy the conditions required to get the overall approval.
The Yamuna Expressway Industrial Development Authority (YEIDA) may not get the desired clearances for switch of land from the state government, mentioned a best corporate reputable.
The Hairdwar-based corporate had proposed to invest up to Rs 6,000 crore to set up a plant in 425 acres of land at YEIDA to cater the home and export markets thru its step-down firm Patanjali Food & Herbal Park.
Confirming the development, Patanjali Ayurved Managing Director Acharya Balkrishna advised PTI: "We are cancelling the project as we did not get required clearances from the UP state government."
The corporate now plans to shift the mission to some different state, he mentioned without disclosing additional main points.
Citing the reason for pulling out of the state, he mentioned, "We did not get any cooperation from the state government for this project. We have waited for long time for the clearances but could not get from the state government. Now we have decided to shift the project."
Patanjali was given one-month extension by way of the Ministry of Food Processing Industries till end of June to get the needful clearances to begin the mission.
When contacted Food Processing Secretary J P Meena advised PTI:" Patanjali was given four months time to meet the conditions required to get the final approval. There are four to five conditions, including land and bank loans, which any party that wants to set up mega food park has to fulfil."
Meena additional mentioned, "We have not cancelled the project. We have given one month extension to Patanjali... they have to meet the condition. In case, Patanjali does not meet the condition, we have no choice but to cancel. We have done it earlier in many projects."
Patanjali had already got support from the financial institutions for the mission, Balkrishna claimed.
"We got extensions two times from the Ministry of Food Processing Industries and now it (time) is lapsing as we could not get the required clearances from the state government," Balakrishna mentioned.
Mega meals parks are to be applied inside 30 months and fiscal assistance is equipped to them by way of the central government.
Earlier, Patanjali had mentioned that its Yamuna Expressway-based plant would produce goods worth Rs 25,000 crore annually, if it runs to its complete capacity.
It would create 10,000 direct jobs, Patanjali had mentioned.
Patanjali is at the moment investing in mega meals park initiatives, together with Nagpur (MP) and Tejpur (Assam).
Patanjali cancels proposed Rs 6,000-crore mega food processing park in UP
![Patanjali cancels proposed Rs 6,000-crore mega food processing park in UP]()
Reviewed by Kailash
on
June 06, 2018
Rating:
