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Maharashtra financial incentives for new oxygen plants covid latest news


Image Source : PTI

View of Vignesh Oxygen plant during the second wave of COVID-19, in Surat. (Representational image)

Maharashtra Government has approved a special financial incentives package for industries setting up new oxygen manufacturing plants, a senior official said on Friday.

The state government decided to approve a package in the backdrop of acute shortage of medical oxygen for treatment of coronavirus patients, Maharashtra’s Additional Chief Secretary (Industries) Dr Harshdeep Kamble said.

The package is being given under the “Maharashtra Mission Oxygen Swawlamban” plan to boost oxygen production in the state, the senior IAS official told PTI.

Due to the increasing number of coronavirus cases, there is a huge shortage of oxygen in Maharashtra, he said.

“With a target of manufacturing 3000 MT of oxygen per day, the state government has decided to give special financial incentives to industrial units manufacturing liquid medical oxygen and also for the manufacturing of oxygen cylinders and cryogenic tankers, said Kamble who is the Development Commissioner and also holds the charge of Secretary of the Industries Department.

Units set up in Vidarbha, Marathwada, Dhule, Nandurbar, Ratnagiri and Sindhudurg regions shall be eligible for incentives up to 150 per cent of their eligible fixed capital investments and units set up in the rest of Maharashtra shall be eligible for up to 100 per cent general incentives, he said.

The government will also give a refund on gross SGST, stamp duty, electricity duty and unit subsidy of power cost for five years, interest subsidy for MSME units with a fixed capital investment of up to Rs 50 crore, also a special capital subsidy for units producing 25 MT to 50 MT of oxygen and going into production before December 31.

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Under the Ease of Doing Business policy for units to go into production at the earliest all permissions shall be given in 15 days, he said. For fast-tracking the implementation of the policy, a committee to monitor the same will be set up under his chairmanship, Kamble said.

“The state cabinet led by Chief Minister Uddhav Thackeray approved the special scheme wherein we have done away with investment and employment criteria and focussed on the oxygen manufacturing capacity,” he said.

“With up to 150 per cent incentives coupled with capital subsidy, which is more in backward regions of Marathwada and Vidarbha, and with Rs 2 per unit power tariff subsidy and other benefits, many units would be attracted to Maharashtra. Only those applying before June 30 will get the benefits of this policy,” he said.

Kamble, who is also the state government’s nodal officer for “Mission Oxygen Swawlamban” said with the possibility of a third wave of the pandemic the oxygen demand is expected to reach 2300 MT. As of now, our manufacturing capacity is 1300 MT and the requirement is 1800 MT,” he said.

Because of this policy, the state’s healthcare system would be strengthened by increasing manufacturing and storage for becoming an oxygen self-reliant state and Maharashtra would also be able to provide oxygen to other states if needed, he said.

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