Saboo Sodium Chloro Ltd Signs MoUs Worth Rs. 485 Crore for Greenfield Hospitality Projects with the Government of Rajasthan

Saboo Sodium Chloro Limited has signed two landmark Memorandums of Understanding (MoUs) with the Government of Rajasthan at 'Rising Rajasthan 2024' for the development of greenfield resorts under the banner of Samskara Resorts. Details about the projects are as follows:

Samskara Resort in Udaipur (Girwa), Rajasthan

- Proposed Investment: Rs. 400.00 Crores
- Proposed Employment: 400 direct jobs
- Estimated Commencement: 2027

2. Samskara Resort in Jodhpur, Rajasthan

- Proposed Investment: Rs. 85.00 Crores
- Proposed Employment: 150 direct jobs
- Estimated Commencement: 2026
The comprehensive subsidy scheme provided to SSCL for these projects carries significant financial and regulatory benefits. The most important subsidies given include:

- Capital Subsidy: Up to 20% of the Eligible Fixed Capital Investment (EFCI), disbursed over ten years.

- Exemptions: 100% exemption from stamp duty, conversion charges, and electricity duty for seven years.

- Additional Boosters: Thrust Sector and Regional Anchor Boosters, offering an additional 10%-20% subsidy.

The total savings for the company over the subsidy period of 10 years is estimated to exceed %150 crore, significantly enhancing the financial viability and competitiveness of these projects.

These developments mark a pivotal step in Saboo Sodium Chloro Limited's diversification into the hospitality sector, leveraging government support to create world-class infrastructure in Rajasthan. The company will keep the exchange updated as per stipulated requirements.

Shares of SABOO SODIUM CHLORO LTD. was last trading in BSE at Rs. 26.04 as compared to the previous close of Rs. 24.90. The total number of shares traded during the day was 46224 in over 191 trades.

The stock hit an intraday high of Rs. 26.14 and intraday low of 24.60. The net turnover during the day was Rs. 1189962.00.

Source : Equity Bulls

Keywords

SABOOSODIUMCHLORO INE440C01016 MoUs RajasthanGovernment RisingRajastghan2024 SamskaraResorts