New Delhi, Oct 22 (IANS) The Cabinet Committee on Economic Affairs (CCEA) Thursday sanctioned Rs.300 crore to develop a leather park to provide the industry with infrastructure at one place and attract foreign investments.
“The aim is to provide the industry with infrastructure facilities for setting up leather units across product categories at one place in an organised manner and to attract large domestic, joint venture and foreign investments into the Indian leather industry,” Information and Broadcasting Minister Ambika Soni told reporters after a CCEA meeting.

The leather park will have various sectors of the leather industry including tanneries, as well as all product categories and leather machinery.

“A special purpose vehicle (SPV) will have to be set up by entrepreneurs for development and management of the park,” Soni said.

The government will bear 50 percent of the expenditure for developing the common infrastructure, capacity building and engineering and construction supervision subject to a ceiling of Rs.40 crore.

“No support would be provided for land and land development. A project monitoring consultant would be appointed for effective implementation, monitoring and evaluation of the projects under the scheme,” the government said.