Concession of Rs. 327 crore on investment of Rs. 3000 crore
Investment promotion committee meet
Bhopal, January 12, 2016 (Abdul Ahad Farhan): A meeting of Investment Promotion Committee chaired by Chief Minister Mr. Shivraj Singh Chouhan here today considered proposal of Reliance Group to establish Defence Park and Aerospace Park in the state. Discussions were also held on proposed expansion scheme of Bharat- Oman Refinery, Bina. The meeting was informed that Reliance Group will establish Defence Park in Pithampur SEZ. For this, the Group will be allotted 300 acre land on 25 percent premium.
Upto Rs. 10 crore subsidy will be provided to the Group for research and development. Besides, exemption in VAT and CST will be given for 20 years. Similarly, Reliance Group will be allotted 40 acre land on 25 percent premium for establishing Aerospace Park at Bhopal. Exemptions will be given as per industrial policy on expenditure on infrastructure, stamp duty, VAT and CST. Grant will be provided for research and development. Under state’s industrial development policy, the Group will be given subsidy worth about Rs. 327 crore on investment of Rs. 3000 crore on both the projects.
The meeting also discussed establishment of internet data centre by Reliance Group at Pithampur. It was decided to give Rs. 100 crore interest-free loan on VAT and exemption from entry tax on crude oil to Bina Refinery on proposal of expansion. Finance Minister Mr. Jayan Malaiya, Commerce and Industries Minister Mrs. Yashodhara Raje Scindia, Revenue Minister Mr. Rampal Singh, Labour Minister Mr. Antar Singh Arya, Minister of State for Urban Development Mr. Lal Singh Arya, Chief Secretary Mr. Anthony de Sa, ACS Finance Mr. A.P. Shrivastava and senior officers of concerning departments attended the meeting.