Rushil Decor to set up fibre manufacturing unit in AP.

Rushil Decor Ltd. is planning to set up a manufacturing unit for medium-density fibre at Atchutapuram in Visakhaptnam. The Gujarat-based company and part of Rushil Group has come up with a proposal to set up an unit with a capacity of 600 cubic metres per day with an outlay of ₹559 crore in a phased development.

The company, which had inked an MoU with the state government at the CII Partnership Summit, had sought certain concessions under the industrial policy. The State Investment Promotion Board, chaired by Chief Minister N Chandrababu Naidu, has granted several concessions for the company under the industrial policy.

The state has agreed to reimburse 100 per cent VAT/CST/SGST for seven years from the date of commencement of commercial production or up to realisation of 100 per cent fixed capital investment. Apart from reimbursement of 50 per cent of capital cost incurred towards capital expenditure, with components of green measures as per the industrial policy, it will be entitled to benefits with a ceiling of ₹50 crore. The unit will also get reimbursement of ₹1 per unit of power consumed for seven years from the date of commercial production. Apart from the concessions extended under the Industrial Development Policy 2015-2020 in terms of stamp duty and registration concessions, the company will also get a one-time reimbursement of cost for conversion of land from agriculture to industrial use.

HBL