With an aim to inviting investments in Uttar Pradesh, the state government extended subsidy to two mega projects in Greater Noida saying that investments in Uttar Pradesh would get a favourable response.
Principal Secretary, Infrastructure and Industrial Development, Alok Sinha said that Intex Technologies (India) ltd and Samsung India Electronic (P) ltd have been given subsidy as per the new industrial policy of the state government.
Intex Technologies ltd plans to invest Rs 372.21 crore in Noida and will manufacture mobile phones, battery chargers, lED TV and washing machines.
“The state government will reimburse 80 per cent as subsidy in 10 years of the VAT/CST or GST it has deposited. Government will also give 100 per cent rebate on stamp duty,” Sinha said in a statement issued in lucknow on Wednesday.
About Samsung, the official said that the investment in extension of the proposed projects has been extended from 7 years to 10 years. The government has also proposed to give security to these industries by setting up special police force in the vicinity of these industries.