By: K.V. Kurmanath
Mobile manufacturer Micromax has been allotted 18 acres at Raviryal village near here.
The firm is going to set up a mobile handset manufacturing factory with an initial investment of Rs. 80 crore, with a promise to provide 1,250 jobs.
The Telangana State Industrial Infrastructure Corporation Limited (TSIIC) has made this allocation on Tuesday for Bhagwati Products Limited (Micromax). Besides, the firm is eligible for tax and other benefits as it gets ‘Mega Project’ tag.
The firm would manufacture mobile phone instruments and accessories. It would be treated as the anchor unit at the EMC (Electronic Manufacturing Cluster) where other phone firms too are expected to set up their bases.
The firm would get 100 per cent reimbursement of VAT for a period of 10 years from the commencement of operations. It would also get a 20 per cent capital subsidy on fixed capital investment.
Source: The Hindu