Special incentives to firms for medical oxygen production in Madhya Pradesh

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Thestate governmenthas decided to provide special financial assistance to units to promote capacity addition of medical Oxygen in the state. In this connection,principal secretaryof Industrial Policy and Promotion Sanjay Kumar Shukla has notified the secretary, Department of Micro, Small and Medium enterprises, Managing Director ofMadhya Pradesh Industrial Development Corporationand all the collectors.

Shukla said that basic investment incentive assistance at the fixed rate of 50% on capital investment made on equipment, Plants and buildings (excluding land and residential areas) will be payable to eligible units in the state whose

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production capacity of oxygen production would be minimum 10 cubic meters per hour. The maximum limit of the said assistance will be Rs 75 crore.

The eligible units will be given a rebate of Re one per unit on the prevailing power tariff. This will be reimbursed to eligible units by MSME or MPIDC. The benefit of this facility will be available for a period of 3 years from the date of commercial production.