The move to provide incentives aims at accelerating implementation of the proposed projects for which agreements were signed between the government and investors during the GIS-2023.
CM Yogi (File Photo)
In an attempt to expedite setting up of mega industrial projects in Uttar Pradesh, the Yogi Government has announced 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 state government’s move to provide incentives, special facilities and concessions to the investors, aims at accelerating implementation of the proposed 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 this year.
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The projects for which the first installment of incentive reimbursement has been released include Jaypee Cement Aligarh, RCCPL Pvt. Ltd. Raebareli and Gallantt Ispat Ltd. Gorakhpur.
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A decision regarding the process of reimbursement of incentives to these industrial undertakings as per their eligibility was taken recently 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 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 incentive.
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 9.08 cror in two categories.
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 the first incentive amount of Rs 24.28 crore in three categories.
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