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May 31 designated as last day for submission of proposals
The Tamil Nadu Industrial Development Corporation (TIDCO), which hopes to tie up with private companies for projects to produce COVID-19-related medical equipment and drugs, has fixed ₹50 crore as the minimum investment by each partner.
TIDCO recently called for expression of interest for the projects.
May 31 is the last date for submission of proposals for the manufacture of high-end medical devices, oxygen plants and concentrators and vaccines.
An emerging sector
In fact, the C. Rangarajan Committee, constituted by the government last year to study the impact of the pandemic on the State’s economy, had identified the manufacture of medical devices and pharmaceutical products as the emerging sector.
State incentivises manufacture of oxygen
Updated:
Updated:
Govt. announces capital subsidy
Govt. announces capital subsidy
The State government on Thursday announced incentives for companies willing to manufacture medical oxygen in the State.
The government announced that companies that invest in Tamil Nadu to produce oxygen concentrators, oxygen cylinders and medical oxygen will get 30% capital subsidy over a two-year period. The companies that wish to avail themselves of this subsidy must begin production before August 15. Investments made between January 1 and August 31 will also be taken into account.
For investments made between January 1 and November 30 for setting up plants with a minimum capacity of 10 metric tonnes of liquid oxygen, 30% capital subsidy will be given over five years. The firms concerned must start production by November 30. For these companies, the Tamil Nadu Industrial Investment Corporation Limited will immediately provide loans at 6% interest wit
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