Rs 437-crore electronics manufacturing project cleared for Telangana
Telangana State Industrial Infrastructure Corp (TSIIC) had submitted a proposal to the ministry of electronics and IT (MEITY) to set up an electronics manufacturing cluster over 310 acres of land.business Updated: Aug 06, 2017 14:06 IST
The government has cleared setting up of a greenfield electronics manufacturing cluster in Telangana with a total project cost of Rs 437 crore, an official source said.
Telangana State Industrial Infrastructure Corp (TSIIC) had submitted the proposal to the ministry of electronics and IT (MEITY) to set up an electronics manufacturing cluster over 310 acres of land area.
“The project with a cost of Rs 437 crore has been approved by MEITY,” an official source, who did not wish to be named, told PTI.
This is the second electronics manufacturing cluster (EMC) project approved by MEITY for Telangana. In July, it had approved an EMC proposed to be set up by TSIIC with total project cost of Rs 667 crore covering total area of about 600 acre.
Under the EMC scheme, the central government provides assistance of up to 50 per cent of the project cost subject to a ceiling of Rs 50 crore for every 100 acres of land.
The scheme aims to encourage setting up of industrial parks that can house entire ecosystem, ranging from factories, design houses to academic institutions, required for manufacturing of electronics products.
As per official data, the government had granted final approval for setting up 15 EMCs in the country.
After announcement of National Policy on Electronics, the government has received 233 investment proposals under Modified Special Incentive Programmes entailing investment of Rs 1.44 lakh crore. Out of this, the government has approved incentives for 97 proposals with proposed investments of Rs 20,809 crore.