TN incentives for production of medical oxygen, equipment
May 13, 2021
Chief Minister MK Stalin - PTI×
To avail this benefit, the units should start production by August 15 With medical oxygen in great demand in Tamil Nadu due to the fast-spreading coronavirus, the State government has announced an incentive package to encourage oxygen production in the State.
This was decided after a a high-level meeting chaired by Chief Minister MK Stalin on May 11.
As per the incentive package, 30 per cent capital subsidy in two equal instalments will be provided to those units that invest in manufacturing oxygen concentrators, oxygen cylinders and medical oxygen in the State. However, to avail this, the units should start production by August 15, 2021.
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