AP okays benefits for Zynergy's unit in Nellore

AP okays benefits for Zynergy’s unit in Nellore

The Industries and Commerce department of Andhra Pradesh has granted several benefits to Zynergy, a subsidiary of Alectrona Energy of Chennai, to set up its facilities in Nellore.

Following this, has expressed its wish to set up a Rs. 520 crore solar module and solar cell manufacturing unit in Nellore district of Andhra Pradesh.

The company has proposed a three phased project worth Rs 3970 crore in Andhra Pradesh.

At a a meeting of the State Investment Promotion Board chaired by Chief Minster N Chandrababu Naidu, it was decided to extend several concessions as per the AP Electronic Policy 2014-2020.

As per the policy, the company will get 100 per cent reimbursement of stamp duty, transfer duty and registration fee paid on sale and lease deeds, capital subsidy of 10 per cent of total investment of Rs. 5 crore, 100 per cent tax reimbursement of VAT/CST for a period of 10 years subject to a maximum of 100 per cent of fixed capital investment.

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