Mega project status for NIBE Ltd's proposed manufacturing facilities at MIDC, Shirdi

Department of Industries, Energy, Labour and Mining, Government of Maharashtra has confer the status of “Mega Project” under package Scheme of Incentives Policy, 2019, its proposed manufacturing facility at MIDC, Shirdi, Taluka, Rahata, Dist., Ahemdnagar, 423 107 to manufacture aircraft parts such as Vertical Stabilizer, Horizontal Stabilizer, Wings, Jet Engine, Cockpit, Fuselage (Body), Slats, Spoiler, Aileron, Flaps, Elevaor, Rudder etc. at a proposed investment of Rs. 1200 crores.

Under the Mega Project Status, in addition to various benefits available to the Company as per package Scheme of Incentives Policy, 2019, 300 acres of land would also be made available to the Company by MIDC, Shirdi for this project.

The aforesaid status is subject to various regulatory and legal permissions/ approval, clearances and conditions.

Shares of NIBE Ltd was last trading in BSE at Rs. 2028.30 as compared to the previous close of Rs. 1983.60. The total number of shares traded during the day was 23637 in over 1377 trades.

The stock hit an intraday high of Rs. 2082.75 and intraday low of 1891.60. The net turnover during the day was Rs. 46927744.00.

Source : Equity Bulls

Keywords

NIBE INE149O01018 MegaProject Status MaharashtraGovernment