Uttar Pradesh government announces ₹146 cr as rebate for 8 mega projects

Mega projects: The state government has allocated over Rs 146 crore as reimbursement of the first instalment of concessions to eight 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. Agreements were signed between the government and investors during the Global Investors Summit 2023 in February in Lucknow.

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.

Mega projects in state

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. 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.

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