| According to a government source, the commercial tax department had told the Project Clearance and Implementation Board (PCIB) that both the units, one of which has taken shape in Satlapur (near Mandideep) and the other is coming in Budni (the hometown of Chief Minister Shivraj Singh Chouhan in Sehore district), had been exempted from entry tax on stock and raw material transfer between the two units. |
| The Satlapur unit has started production. The unit will have a spinning capacity of 200,000 looms. The group is also setting up a spinning, weaving and dyeing unit in Budni (60 km from Bhopal) with an investment of Rs 800-900 crore. Civil work on the unit is going on. It is coming up near the Narmada river because a unit of this capacity needs plenty of water. |
| Unlike the Mandideep unit, which is 100 per cent export-oriented, the new unit will produce yarn for export as well as domestic supply equally. |
| The company had earlier asked for exemption from entry tax on raw material transfer from one unit to the other because they were close to each other. Mahavir's is the only big-ticket investment that the state government had claimed to attract during the past three years. |
| "The state government is considering other demands of the company. They include lump sum payment of diversion charges against land transfer, etc," a government source told Business Standard. |
| The Trident group is planning to set up a unit in Budni. The land acquisition process for group company Abhishek Industries Ltd is going on. |
Top Section
Explore Business Standard