Uttar Pradesh govt announces concessions worth Rs.146 cr for 8 mega projects
The Uttar Pradesh government has announced the allocation of more than Rs.146 crore for reimbursement of the first installment of concessions to eight mega projects under the Uttar Pradesh Industrial Investment Policy.
The mega projects for which the first installment of incentive reimbursement has been released include Jaypee Cement Aligarh, RCCPL Pvt Ltd, Rae Bareli, and Gallantt Ispat Ltd, Gorakhpur.
The government’s move to provide incentives, special facilities, and concessions to the investors is aimed at accelerating the 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.
A decision regarding the reimbursement process of incentives to these industrial undertakings as per their eligibility was taken at a recent meeting chaired by Infrastructure and Industrial Development Commissioner (IIDC) Manoj Kumar.
JK Cement Works, Aligarh (a unit of JK Cement Ltd), will also be reimbursed a total incentive of Rs.21.85 crore for the financial year 2020-21 and Rs.12.52 crore for 2021-2022.
Similarly, Paswara Papers Ltd, Meerut, will be reimbursed Rs.12.65 crore as an incentive, according to a media handout issued by the government.
An amount of Rs.1.63 crore will be received as SGST reimbursement of Rs.11.02 crore and capital interest subvention reimbursement.
Varun Beverages Ltd, located in Sandila, Hardoi, will be reimbursed incentive amount of Rs.8.52 crore for the year 2021-22 whereas Gallantt Ispat Ltd Gorakhpur will get the first reimbursement amount of a total of Rs.15.96 crore, including Rs.6.88 and Rs.9.08 crore in two categories, according to the government spokesman.
Besides, Sparsh Industries Pvt Ltd, Kanpur Dehat, will be reimbursed Rs.3.66 crore, RCCPL Pvt Ltd, Raebareli, Rs.46.55 crore, and Shree Cement Pvt Ltd, Bulandshahr, will get the first incentive amount of Rs.24.28 crore in three categories.
[With Inputs from IANS]
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