From Our Special Correspondent
New Delhi: The Union Cabinet on Tuesday approved Rs 86.09 crore subsidy to Adhunik Cements, Meghalaya, a move that is likely to promote industrialisation in the Northeastern region.
“The Cabinet Committee on Economic Affairs approved Rs 86.0973 crore to Adhunik Cements Ltd, Meghalaya as Central Capital Investment Subsidy under Central Capital Investment Subsidy Scheme (CCISS), 2007 of the North East Industrial and Investment Promotion Policy, 2007,” an official release said. “The grant of the subsidy will not only provide incentives to the operational units but also boost the confidence of existing investors as well as potential investors in the states of the North East Region,” it added
This is the first claim under NEIIPP, 2007 which has been brought for the consideration of the Union Cabinet paving the way for approval of other similar cases.