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Incentive assistance to be given for Capital Investment in Commercial Vehicle manufacturing Project

Bhopal. Incentive assistance will be provided on capital investment in commercial vehicle manufacturing project at Bagroda Industrial Area of Bhopal under the Industry Promotion Policy. An investment of Rs. 500 crore will be made and 3 thousand 200 persons will get employment in this project. CM Chouhan said in the meeting that employment should be provided to local people on priority in the industries to be established in the state.

It was informed in the meeting that electricity will be provided to this project at the rate of Rs. 5 per unit up to 5 years under the Industry Promotion Policy. Assistance will be given to Vardhman Textiles Ltd. for expansion of textile units in Mandideep and Satlapur of Raisen district and Budhni of Sehore district on capital investment under the Investment Promotion Scheme as per the Industry Promotion Policy. Besides this, electricity at the rate of Rs. 5 per unit will provided. An amount of Rs. 1361 crore 38 lakh will be invested on these expansion projects by the Vardhman Textile Ltd. These projects will facilitate employment to 2 thousand persons approximately.

Minister for Finance Jayant Malayya, Minister for Commerce and Industry Rajendra Shukla, Minister for Energy Paras Jain, Chief Secretary B.P. Singh, Additional Chief Secretary Commercial Tax Manoj Shrivastava, Principal Secretary Commerce and Industry Mohammad Suleman, Principal Secretary Finance Anurag Jain, Principal Secretary Energy I.C.P. Keshri, Principal Secretary to CM S.K. Mishra and Managing Director TRIFAC Vivek Porwal were also present in the meeting.