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Rs 1,330 cr. twin projects in Punjab
Fearing exodus of investors to neighbouring Jammu and Kashmir, Himachal Pradesh and Uttaranchal where the Union government has offered a series of incentives for new industrial units, the Punjab government is taking various steps to retain investors in the state by offering tax incentives and other benefits. Punjab's Empowered Committee for Mega Projects recently offered a special package of incentives for setting up industrial units in the state, involving a capital investment of Rs 1,330 crore. This, according to the government, is likely to generate jobs for 15,000 people.
Trident Group of Industries (Rs 830 crore) and Khanna Paper Mill (Rs 500 crore) are investing in two mega projects. The Trident Group would set up a terry towel project and a paper mill at Barnala. The Khanna Group of Industries would undertake expansion of the existing unit of Khanna Paper Mills at Amritsar, raising the existing capacity of production from 300 tpd to 1,000 tpd. The concessions granted to these groups included exemption from electricity duty, octroi and purchase tax for five years.
The government has also granted various concessions to other units. The Godrej Group of Industries has also been granted concession with regard to the deferment of sales tax for the period for which they could not avail of the concession earlier. Similarly, Nahar Group of Industries has been granted concessions for its upcoming industrial estate at Lalru.
Rs 1,330 cr. twin projects in Punjab
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