| The two government bodies had not organised their regular meetings for two months, government sources said. And if there was any meeting, the investment proposals were not discussed. |
| The Katarias have reportedly arranged for Rs 26 crore from Uco Bank as term loan and has acquired land for the proposed investment. |
| The Ratlam-based Sunil Kataria and Arun Kataria-promoted firm also has interests in steel and copper wire production. |
| The new facility would have a capacity of producing 144,000 metric tonnes of wire a year, and 9,600 metric tonnes of plastic products, said a government official, adding, the firm will make plastic films, nylon films, woven sacks and fabricated boxes, polyester films and polyethylene pipes. |
| "The company is expecting to complete construction by December this year and start production," said the insider. The investment will generate at least 450 jobs. |
| The firm has asked for concessions offered to those firms with a Rs 25 crore turnover, on capital investment subsidy, concession in sales tax and entry tax of raw material, and speedy clearances of government proposals. |
| "The board meets on the first and third Tuesdays of each month; a meeting was organised on May 30 but the apex committee, which looks after proposals of more than Rs 30 crore, is yet to hold a meeting. The proposal is likely to be discussed in the next meeting, which will take place soon," said a senior government official in the department of industry. |
| He further said, "Since the Industrial Promotion Policy 2004 is yet to be revised, the meeting will decide on the proposal accordingly. There may be changes in sops and concessions." |
| The Katarias are known for their jewellery work in Ratlam, a place which is popular for its gold jewellery designs. |
Top Section
Explore Business Standard