Supreme Yarns Granted special package of incentives as 'Mega Project' for expansion plans

Supreme Yarns Ltd has announced that the Company has received approval of 'Mega Project' from Punjab Govt., for its forthcoming expansion plan of Rs 226 crores. The Company will be entitled to exemption from payment of stamp duty on land acquisition for the Project. In addition to this the Company will be able to avail 50% discount in electricity duty for 5 years and exemption from ACD (Advance Consumption deposit). The Company will also be provided un-interrupted power supply as per the provision of the Punjab State Electricity Board and is to allowed to install captive power generation and exemption from Electricity Duty on such power produced.

An agreement for this will be put forward in the next Board meeting of the company.

Source : Equity Bulls

Keywords