Ranchi, Jan. 19: Mumbai-headquartered Triveni Group, a real estate player with emerging interests in core manufacturing, will set up a mega food park in Chandankyari block of Bokaro district.

The Group has been given a go-ahead from Union food processing ministry for setting up the mega food park involving a proposed cost of Rs 225 crore in Chandankyari, which also happens to be the Assembly constituency of state tourism and sports minister Amar Kumar Bauri.

State industries directorate had earlier proposed to the Union food processing ministry about setting up four food parks in Sahebganj, Hazaribagh, Deoghar and Bokaro. The Bokaro proposal got the go-ahead, confirmed state industries director K. Ravikumar.

Ravikumar told The Telegraph they received a letter from the Union ministry earlier in January green-lighting the mega food park by Triveni Group, which is to be called Kaushal Triveni Food Park Limited. "This is a big achievement for the state when it is holding its first-ever Global Investors' Summit," Ravikumar said.

Speaking over phone from Mumbai, Triveni Group chairman Akhilesh Pandey told The Telegraph that they had around 400 acres in Chandankyari's Rangamatia area.

"For the food park project, we have earmarked 130 acres and Rs 225 crore. The investment will be used to develop infrastructure for the food park. There is possibility that investments worth Rs 5,000 crore to Rs 10,000 crore will enter when food processing units set up shop. We expect to start work on the project this year itself. In future, the food park project will provide direct and indirect employment to around 10,000 people of the region," Pandey said.

Pandey added the state government had promised to build an all-weather road leading to the food park site.

Triveni Group has a 0.5million tonne integrated steel mill and captive power plant in Seraikela-Kharsawan and low-cost housing projects across the state.

The Chandankyari venture would be second food processing park in Jharkhand, the long-delayed Jharkhand Mega Food Park at Getalsud near Ranchi, whose foundation stone was laid in 2009, being in the final stages of commissioning.

A PPP project under the mega food park scheme of the Union food processing ministry, the Getalsud park is spread across 56 acres, is being set up at a cost of around Rs 115 crore and will have multi-chamber cold storage, dry warehouse, vegetable dehydration line, modern quality control and laboratory and other processing facilities.