Havells India - Update On Setting Up Of New Facility In Rajasthan
Havells India Limited has informed about setting-up a new facility to manufacture consumer durables in Ghiloth/ Neemrana in the State of Rajasthan. In this regard, the relevant details are as follows:-
i) Items to be manufactured –
Consumer Durables production whereof is expected to start from Q3 of FY 2018-19
ii) Details of Investment –
The Executive Committee of the Board has approved a total investment of up to Rs. 360 crores (Rupees Three Hundred and Sixty Crores Only), excluding the cost of land which is already owned by the company spread over a period of 3 years. The total investment will be funded through a mix of internal accruals and borrowings.
iii) Benefits for setting-up the manufacturing facility –
The company will be entitled to investment subsidy under the M-SIPS (Modified Special Incentive Package Scheme) introduced by MEITY and also for various tax/ levies and other benefits from the State Government of Rajasthan. This is for your information and records.