Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

Yogi Adityanath Dials Ramdev to Break the Ice After Patanjali Threatens to Pull Out Rs 6,000-Crore Food Park

Sources said Uttar Pradesh Chief Minister Yogi Adityanath ensured yoga guru Ramdev that the Patanjali Ayurved’s project was on the cards and “minor issues” would be cleared soon.

News18.com

Updated:June 6, 2018, 2:13 PM IST
facebookTwitterskypewhatsapp
Loading...

Lucknow: Uttar Pradesh Chief Minister Yogi Adityanath spoke to yoga guru Ramdev over the phone on Tuesday night after the latter’s Patanjali Ayurved cited non-cooperation from the government and said it was pulling out of its proposed Rs 6,000-crore mega food processing project along the Yamuna Expressway.

Sources said the Chief Minister ensured Ramdev that the project was on the cards and “minor issues” would be cleared soon. The yoga guru, sources added, was convinced by Yogi Adityanath’s assurances.

The Hairdwar-based Patanjali Ayurved had proposed to invest up to Rs 6,000 crore to set up a plant in 425 acres of land to cater to the domestic and export markets through its step-down firm Patanjali Food & Herbal Park. The Yamuna Expressway Industrial Development Authority (YEIDA) could not get the required clearances for transfer of land from the state government, said a top company official.

"We are cancelling the project as we did not get required clearances from the UP state government,” Patanjali Ayurved Managing Director Acharya Balkrishna told PTI on Tuesday. The company now plans to shift the project to some other state, he said without disclosing further details.

Citing the reason for pulling out of the state, he said, "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 the Ministry of Food Processing Industries till end of June to get the requisite clearances to start the project.

"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,” Food Processing Secretary JP Meena told PTI.

"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," Meena added.

Patanjali had already got support from the financial institutions for the project, 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 said.

Mega food parks are to be implemented within 30 months and financial assistance is provided to them by the central government.

Earlier, Patanjali had said that its Yamuna Expressway-based plant would produce goods worth Rs 25,000 crore annually, if it runs to its full capacity.

It would create 10,000 direct jobs, Patanjali had said. Patanjali is presently investing in mega food park projects, including Nagpur (Madhya Pradesh) and Tejpur (Assam).

(With PTI inputs)

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Nitya Thirumalai
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results