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TN incentives for production of medical oxygen, equipment

Our Bureau Chennai | Updated on May 14, 2021

Chief Minister MK Stalin   -  PTI

To avail this benefit, the units should start production by August 15

With medical oxygen in great demand in Tamil Nadu due to the fast-spreading coronavirus, the State government has announced an incentive package to encourage oxygen production in the State.

This was decided after a a high-level meeting chaired by Chief Minister MK Stalin on May 11.

As per the incentive package, 30 per cent capital subsidy in two equal instalments will be provided to those units that invest in manufacturing oxygen concentrators, oxygen cylinders and medical oxygen in the State. However, to avail this, the units should start production by August 15, 2021.

The investments made from January 1 to August 31, 2021 will also be considered for getting this concession, says a government release.

The units that can produce a minimum of 10 tonnes of liquid oxygen daily will get 30 per cent. Those units established between January 1 and November 30, 2021 will be taken into account for this concession, and the capital subsidy will be given in a period of five years. To avail this concession, the plant should commence production before November 30, 2021.

The above factories will be provided loans immediately with 6 per cent interest subsidy annually through the Tamil Nadu Industrial Investment Corporation, and allotted lands through Sipcot and Sidco on a priority basis, and clearances given through a single window system by Tamil Nadu Guidance Bureau.

Joint ventures will be encouraged to produce oxygen concentrators, vaccines, and medical oxygen by Tidco, the release said.

Published on May 13, 2021

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