Tamil Nadu

Cabinet grants sops to two companies


Wind energy equipment makers likely to bring in an investment of ₹876 cr.

The State government on Thursday decided to grant incentives to two companies manufacturing wind power equipment which are expected to bring in an investment of ₹876 crore.

At a Cabinet meeting chaired by Chief Minister Edappadi K. Palaniswami in the Secretariat in Chennai on Thursday, it was decided to sanction incentive packages to Vestas and another private company. Vestas is scheduled to invest ₹626 crore for its unit at Hiranandani Estates at Oragadam in Kancheepuram district, which is expected to employ about 500 people, official sources said.

The other company would invest about ₹250 crore in its unit in Thoothukudi district and is expected to employ about 230 people. The incentives would be in the form of exemption from stamp duty, reduced electricity tax and subsidies.

The meeting reviewed the action taken reports on earlier Cabinet meetings chaired by the Chief Minister.

Relief to cricket assn.

In a breather to three cricket associations that owed over ₹2,300 crore lease amount to the State government, the Cabinet decided to revise the due amount. The Cabinet decided to review the dues to ensure that the operations of the associations, including the Madras Cricket Club and the Tamil Nadu Cricket Association, were not affected.

A Government Order notifying the revision was likely to be issued soon.

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Printable version | Dec 10, 2019 4:46:35 AM | https://www.thehindu.com/news/national/tamil-nadu/cabinet-grants-sops-to-two-companies/article29913712.ece

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