Mysore/Mysuru, Jan. 10 -- Rs. 50.5 crore project in 10.12 acres of land set for tender process next month

The much-awaited Rs. 50.5 crore Mega Silk Cluster project is set to take shape on the outskirts of Mysuru near Yelwal.

The project, titled Mysuru Chamundeshwari Mega Silk Cluster (India) Pvt. Ltd. (MCMSCPL), is being implemented by the State Government's Department of Textiles with support from the Union Ministry of Textiles.

Of the total project cost, the Union Government has sanctioned Rs. 29.5 crore, while the State Government will contribute Rs. 10.5 crore. An additional Rs. 10.5 crore will be mobilised as share capital by 24 members of the Special Purpose Vehicle (SPV).

Mooted in Union Budget 2014-15

The proposal for the sil...