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AP gives more time to Saint Gobain for commencing production

The Andhra Pradesh Industries and Commerce Division has prolonged the timeline for Saint Gobain India for commencing the industrial manufacturing (Part I) as much as June 2022.

It additionally agreed to increase all concessions to the corporate and granted permission for altering the title of the corporate from Saint Gobain India Pvt. Ltd (SGIPL) to Saint Gobain Industries India Pvt. Ltd ( SGIIPL).

In an order issued right now, the Industries Division on the request of Saint Gobain India has prolonged particular bundle of incentives for his or her proposed facility to fabricate Gypsum Plaster Board, and float glass at Atchutapuram, Visakhapatnam with an funding of ₹2,000 crore, which has the potential to create direct employment to 450 individuals and oblique employment to 850 individuals in three phases.

The State allotted 180 acres of land at ₹60 lakh per acre in Industrial Park, Atchutapuram, Visakhapatnam.

In view of the Covid pandemic associated disruption, the corporate sought Authorities permission to finish Part-1 of Gypsum Plaster Board plant by mid-2022, 3 years from the date of allotment of land for the venture, and the State Funding Promotion Board has given time extension for commencing the industrial manufacturing, in response to a order issued right now by R Karikal Valaven, Particular Chief Secretary to AP Authorities.

https://www.thehindubusinessline.com/information/nationwide/ap-gives-more-time-to-saint-gobain-for-commencing-production/article35351598.ece

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