UP govt announces concessions for 8 mega projects

LUCKNOW: The Uttar Pradesh 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 mega projects for which the first installment of incentive reimbursement has been released include Jaypee Cement Aligarh, RCCPL Pvt Ltd, Rae Bareli and Gallantt Ispat Ltd, Gorakhpur.

The government's move to provide incentives, special facilities and concessions to the investors is aimed at accelerating implementation of proposed mega 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.

A decision regarding reimbursement process of incentives to these industrial undertakings as per their eligibility was taken at a recent meeting chaired by Infrastructure and Industrial Development Commissioner (IIDC) Manoj Kumar.

JK Cement Works, Aligarh (a unit of JK Cement Ltd), will also 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, according to a media handout issued by the government.

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 Rs 9.08 crore in two categories, according to the government spokesman.

Besides, Sparsh Industries Pvt Ltd, Kanpur Dehat, will be reimbursed Rs 3.66 crore, RCCPL Pvt Ltd, Raebareli, Rs 46.55 crore and Shree Cement Pvt Ltd, Bulandshahr, will get the first incentive amount of Rs 24.28 crore in three categories.