30 acres area and Rs 500 cr investments! Uttarakhand to set up aroma park in Kumaon – What firms need to know

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Dehradun | September 27, 2018 9:01 PM

An aroma park will be developed over an area of 30 acres in Kumaon region of Uttarakhand and is likely to attract Rs 500 crore investments from incense sticks and aromatic oil manufacturing firms.

aroma park in Kumaon, Uttarakhand , Trivendra Singh Rawat, Madan Kaushik, aromatic oil manufacturing companiesA proposal to this effect was cleared by the state Cabinet at its meeting chaired by Chief Minister Trivendra Singh Rawat Wednesday, State Urban Development Minister Madan Kaushik told reporters soon after the meeting. (Photo source: Twitter)

An aroma park will be developed over an area of 30 acres in Kumaon region of Uttarakhand and is likely to attract Rs 500 crore investments from incense sticks and aromatic oil manufacturing firms. A proposal to this effect was cleared by the state Cabinet at its meeting chaired by Chief Minister Trivendra Singh Rawat Wednesday, State Urban Development Minister Madan Kaushik told reporters soon after the meeting.

The aroma park will come up in Pant Nagar-Kashipur area where incense sticks and aromatic oil manufacturing companies can make investments worth Rs 500 crore, Kaushik, who is also the official spokesman of the state government, said. Together these industrial units will give employment to 5,000 people.

Industrial units buying land for the first time at the park will get 100 per cent exemption from stamp duty, concession in interest on bank loans and in GST for five years, he said. A total of nine proposals were cleared by the cabinet, including one for an amendment in the state tourism policy to offer concessions to entrepreneurs who invest in hotels, motels and ayurvedic resorts.The cabinet also decided to put the loss making Sitarganj sugar mill on PPP mode, Kaushik said. The state government also decided to bear the cost of skill development training of 1,000 youths, he said.

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