Team News Riveting
Bhopal, September 3
The Madhya Pradesh cabinet on Tuesday approved the the Jawad-Neemuch Pressurized Micro Irrigation Project in Neemuch district.
Chief Minister Dr Mohan Yadav chaired the meeting held at the Mantralaya. The project, with an estimated cost of Rs 4,197.58 crore, will irrigate 1,08,600 hectares of land. It is set to benefit 59,700 hectares across 253 villages in Neemuch tehsil and 48,900 hectares in 212 villages of Javad tehsil within Neemuch district.
The Cabinet approved to authorize the MP Industrial Development Corporation Limited, a subordinate organization of the Department of Agricultural Policy and Investment Promotion, has been approved by the Council of Ministers for the establishment and operation of a Power and Renewable Energy Equipment Manufacturing Zone in the industrial area Mohasa-Babai District Narmadapuram, manufacturing area of electrical and renewable energy equipment. Approval was given for reimbursement of 60 percent amount of Rs 56 crore 10 lakh from the amount received under the departmental budget after adjusting, 40 percent amount i.e. Rs 37 crore 40 lakh out of the state government’s share amount of Rs 93 crore 50 lakh for the establishment of the manufacturing zone.
As per the decision, units to be established in the Power and Renewable Energy Equipment Manufacturing Zone will be given other facilities in addition to the prevailing Industry Promotion Policy 2014 as amended. In the manufacturing sector of electrical and renewable energy equipment, the electricity rate amount is Rs 4.36 per unit for the first 05 years, and after that, approval of an increase at the rate of 3 percent every year and reimbursement of the difference in the electricity rate approved by Madhya Pradesh Regulatory Commission by the state government, electricity charges will be reimbursed to the units by the State Government for 05 years from the date of electricity connection, in the manufacturing sector of electrical and renewable energy equipment, the water rate amount was approved to be increased by Rs 25 per kiloliter for the first 05 years and thereafter at the rate of 3 percent every year.
Approval was given to reimburse the stamp duty and registration fees chargeable on land-related documents to the units being established in the park. Approval was given for the allotment of land to the units in the proposed park. It was approved that the annual rate of development fee would be Rs 20 per square meter without any increase for 35 years. Approval was granted to allot land at a token amount of Rs 1 and lease rent at the annual rate of Rs 1 per square metre. Approval was given for the formation of a committee under the chairmanship of Principal Secretary, M.P. Government Industrial Policy and Investment Promotion for allotment of land to the units in the proposed park.
Funds Approved for Establishing Mega Leather, Footwear, and Accessories Cluster Development Park in Morena
The Cabinet has approved the allocation of Rs 111.04 crores from the state government’s budget for establishing the Mega Leather, Footwear, and Accessories Cluster Development Park in the Sitapur Industrial Area (Phase II) of Morena district. The proposal, submitted to the Government of India, outlines the development of this cluster on a total area of 161.7 acres. The state government will also cover the financial costs associated with land development fees, land transfer, and lease rent rebates for investors engaged in valid activities within the cluster. These activities include the production of leather footwear, bags, belts, jackets, garments and leather accessories like watch straps, non-leather footwear, and other related finished products. Additionally, the Cabinet approved the formation of a committee, chaired by the Principal Secretary of the MP Government’s Industrial Policy and Investment Promotion Department, to oversee the allotment of land to units within the proposed cluster.
