|
Sturdy Industries acquired land on lease from Assam Industrial Development
Corporation at Chaygaun near Guwahati in Assam. The company is investing Rs
111 crore to set up a project for manufacturing ABC cables and conductors,
aluminum profiles and other aluminum products like wire and tubs.
The company has commenced site developments and is in talks with bankers for
funding. The construction for equity will be brought through preferential
issue and internal accruals from existing business.
Project entitled various fiscal benefits of concessions in purchase raw
material, supply of finished goods, excise exemption, income tax holiday and
VAT exemption besides interest subsidy etc for a period of 10 years.
|