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Telangana govt approves revival package of BILT
Telangana State Government on Wednesday issued orders extending certain incentives for the revival of the BILT Ballarpur Industries Limited at Kamalapur in old Warangal district The company has been closed since 2014 leaving 750 working families and many indirectly depends on this factory jobless The company was producing rayon grade paper grade pulp and paper
Hyderabad: Telangana State Government on Wednesday issued orders extending certain incentives for the revival of the BILT (Ballarpur Industries Limited) at Kamalapur in old Warangal district. The company has been closed since 2014 leaving 750 working families and many indirectly depends on this factory jobless. The company was producing rayon grade / paper grade pulp and paper.
After the series of discussions with the management of the company, State Industries Minister KT Rama Rao finalised the incentives to be extended to the sick industry for its revival. Government agreed to provide consolidated subsidy of Rs 21 crore per year for a period of 7 years on raw material, Rs 9 crore subsidy on power per annum, Rs 1000 per MT for an average annual consumption of 1,50,000 tons of coal will be made available for 7 years. Government will also be borne Rs 10 per cent of the capital cost for modification in the plant and machinery and other renovation investment.
Government also agreed the management request to pay the commercial taxes due in the installments. The total due was Rs 34.50 crore. The unit will pay Rs 10 crore immediately and the balance will be paid in 60 interest free installments. All the penalties, interests and surcharges are waived off. The company also owed Rs 4.75 crore to State Forest department. The management will pay the dues in 36 monthly interest free installments after moratorium of two years.
