State government signed a memorandum of understanding with Infracon Pvt ltd at Secretariat in presence of chief minister Vijay Bahuguna to accelerate industrialization in SIDDCUl phase-2. State government is defining it as a success of mega industrial policy started by the state government recently.
The MoU would ensure and investment worth Rs 150 crore in SIDDCUl in Sitarganj. On the occasion, chief minister said that the state government was committed to speed up industrialization in the state. he claimed that concrete efforts were being taken to ensure accelerated growth of industrialization in the state.
The CM said that under new policy project worth more Rs 75 crore would be started. The policy would also extend benefit to the already functional industries. Under it, the industries would be provided 50 per cent exemption in stamp duty and 1 per cent exemption in central sales tax. Industrial group involved in self power generation would be provided 50 percent exemption in power tariff. For purchasing land from SIDDCUl, the industrialist would have to provide 20 per cent of the total cost of the land purchased at the time of agreement, while he would have to pay rest of the amount in next seven years in same installments.
Principal secretary industrial development Rakesh Sharma said that the investment of Rs 150 crore would provide means of employment to 1,000 people indirectly along with accelerating industrialisation. 75 acres of land has been allotted to Golden Infracon private ltd for setting up the industries in SIDDCUl.