E-Paper
U.P. govt announces ₹146 cr concessions for 8 mega projects
The government’s move to provide incentives, special facilities and concessions to the investors is aimed at accelerating implementation of proposed mega projects
For setting up of mega industrial projects in Uttar Pradesh, the state government has announced allocation of more than ₹146 crore for reimbursement of the first instalment of concessions to 8 mega projects under the Uttar Pradesh Industrial Investment Policy.
The government’s move to provide incentives, special facilities and concessions to the investors is aimed at accelerating implementation of proposed mega projects for which agreements were signed between the government and investors during the Global Investors Summit 2023, held between February 10 and 12 in Lucknow.
The mega projects for which the first instalment of incentive reimbursement has been released include Jaypee Cement Aligarh, RCCPL Pvt Ltd, Rae Bareli and Gallantt Ispat Ltd, Gorakhpur. A decision regarding reimbursement process of incentives to these industrial undertakings as per their eligibility was taken at a meeting chaired by Infrastructure and Industrial Development Commissioner (IIDC) Manoj Kumar.
JK Cement Works, Aligarh (a unit of JK Cement Ltd) will be reimbursed a total incentive of ₹21.85 crore for the financial year 2020-21 and ₹12.52 crore for 2021-2022. Similarly, Paswara Papers Ltd, Meerut, will be reimbursed ₹12.65 crore as incentive, according to a media handout issued by the government.
An amount of ₹1.63 crore will be received as SGST reimbursement of ₹11.02 crore and capital interest subvention reimbursement. Varun Beverages Ltd, located in Sandila, Hardoi, will be reimbursed incentive amount of ₹8.52 crore for the year 2021-22 whereas Gallantt Ispat Ltd Gorakhpur will get the first reimbursement amount of a total of ₹15.96 crore, including ₹6.88 and ₹9.08 crore in two categories, as per the media handout.
Besides, Sparsh Industries Pvt Ltd, Kanpur Dehat, will be reimbursed ₹3.66 crore, RCCPL Pvt Ltd, Raebareli, ₹46.55 crore and Shree Cement Pvt Ltd, Bulandshahr, will get the first incentive amount of ₹24.28 crore in three categories.
