In accordance with the Uttar Pradesh Industrial Investment Policy, the Uttar Pradesh government has allocated more than Rs 146 crore for reimbursement of the first installment of concessions to eight megaprojects.
The large projects for which the first payment of incentive reimbursement has been made are Gallantt Ispat Ltd. in Gorakhpur, RCCPL Pvt. Ltd. in Rae Bareli, and Jaypee Cement Aligarh.
The government’s initiative to offer incentives, special amenities, and concessions to investors aims to hasten the implementation of proposed megaprojects for which agreements between the government and investors were signed during the Global Investors Summit 2023, which took place between February 10 and 12 in Lucknow.
A decision regarding the reimbursement process of incentives to these industrial undertakings as per their eligibility was taken at a recent meeting chaired by Infrastructure and Industrial Development Commissioner (IIDC) Manoj Kumar.
JK Cement Works, Aligarh (a unit of JK Cement Ltd), will also be reimbursed a total incentive of Rs 21.85 crore for the financial year 2020-21 and Rs 12.52 crore for 2021-2022.
