Asian Paints to get concessions for new plant in AP.

The Andhra Pradesh Government recently approved the proposal of Asian Paints Limited for setting up of a Rs. 1750 crore Greenfield paints manufacturing unit near Visakhapatnam.

The State Cabinet which met here chaired by N Chandrababu Naidu has approved VAT rebate and other concessions for the company.

During the meeting, the Cabinet is learnt to have allotted lands for development of several solar power projects in the State. These include a 50 MW solar photovoltaic (PV) plant by Megha Engineering and Infrastructure Limited. The Government land would be allocated to the nodal agency NREDCAP, which in turn would offer the land on lease to the company for the proposed solar PV unit.

The Cabinet has decided to offer Aviation Turbine Fuel (ATF) at one per cent VAT to Training Aviation Flights and Aviation Academies. The Government had brought down the ATF tax from 16 per cent to 1 per cent for aviation sector with the aim of attracting more flights to Andhra Pradesh as it becomes attractive for them to tank up with lower tax regime.

With the power generation capacity going up due to Krishnapatnam and Gayatri Projects in the State, AP has decided to offer 24x7 power supply to power consumers during the ensuing summer months.


HBL