The MP government today gave the green signal for Hero Associate Ltd’s light sports aircraft manufacturing project, among other proposals of a combined investment of Rs 8,500 crore.
The company, which had signed a deal with the state government in this regard in Gwalior, has asked for 300 acres. It also has reportedly, plans to set up a maintenance facility and a technical training institute in Tamot village of Raisen.
“The apex empowered committee on investment today cleared the proposal and has offered a customised package for the company and others in accordance with the industrial promotion policy. The company will have to acquire land, for which the process is going on,” said Praveen Garg, managing director of Madhya Pradesh State Industrial Development Corporation.
Hero Associate Managing Director Pankaj Munjal had in Gwalior confirmed setting up the facility but declined to divulge details on the project.
The committee has also cleared SPJ Steel Ltd’s Rs 2,250 crore integrated steel plant project in Damoh district, Rs 2,800 crore integrated steel project of Rashmi Metaliks, Rs 674 crore expansion plan of Bridgestone Tyres in Pithampur (near Dhar), Rs 26 crore proposal of Parakh Industries in Nimrani Food Park (district Khargone), Rs 91 crore food park project of SKM Infrastructure near Mandideep (Raisen district), Rs 121 crore ethanol project of Dollex Industries in Sagar, Rs 300 crore polyfilm project of Nahar Polyfilms and Rs 60 crore project of Surya Roshni in Chhindwara district.
The committee also extended the deadline of registration for investment promotion incentives till March 31, 2009. The company may apply for incentives and concessions till next year.
Further, the committee has also approved a proposal of awarding ‘C’ category to Sehore district (near Bhopal) to offer maximum concessions to industrial investment.
Companies that make investment in the ‘C’ category backward district are offered more concessions and sops. This was the last meeting of the empowered committee on investment. The Election Commission will declare the code of conduct next month.
