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Anil Ambani’s Reliance gets green signal for Defence, Aerospace Parks in Madhya Pradesh

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Bhopal. 12 January, 2016. Anil Ambani’s Reliance got a green signal for Defence, Aerospace Parks in Madhya Pradesh government, with a combined investment of Rs. 4,250 crore . The defence park will be allotted 300 acres of land on 25 per cent premium on a 99-year lease and will be set up  with Rs. 3,000-crore investment at Pithampur Special Economic Zone (SEZ) in Dhar district. MP Investment Promotion Committee chaired by Chief Minister Shivraj Singh Chouhan cleared the proposal.

As per the SEZ Act, 2003, the defence park will be given exemptions from entry tax, electricity duty, stamp duty, local body taxes and registration fee. Matching steps with PM’s skill India mantra, the project would also get subsidy for research and development, labour cost, and training expenditure grant to train Madhya Pradesh-domiciled people and will have permission to employ women workers in three shifts.

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