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Investment Promotion assistance to be given for Oxygen plant

14 Oct 2020
Investment Promotion assistance to be given for Oxygen plant

In a meeting of the Cabinet committee, held for the investment promotion under the chairmanship of the Chief Minister Shri Shivraj Singh Chouhan, decision has been taken to facilitate investment promotion assistance on the establishment of plant for the Mohasa Babai Industrial and Medical Gas production in Hoshangabad district of the state. The committee decided to provide assistance to INOX Limited under the Investment Promotion Scheme, at the rate of 40 percent for a period of 7 years. It is to be mentioned that the state government, along with making adequate oxygen arrangements in the state for the treatment of citizens for Covid-19, has considered with utmost seriousness to set up the plant itself in the state, with an aim of ending dependence on other states for oxygen. Chief Minister Shri Chouhan instructed the departments concerned to expedite the proceedings in this regard.

The state government has also approved the license of power distribution through M.P. IDC, to the Inox Air Products Pvt. Ltd. of Mohasa Babai Industrial Area, a leading manufacturer of industrial gases in the country. Making necessary facilities available to the project, it will support setting up the unit. In view of Covid-19, the process of setting up 210 tonne capacity per day air-separation plant is under way with a capital investment of 125 crore to meet the oxygen demand. The setting up of the project will play an important role in the economic development and supply of oxygen in state.

In the meeting held today, Minister for Industrial Policy and Investment Promotion Shri Rajvardhan Singh Dattigaon, Minister for Micro, Small & Medium Enterprises, Science & Technology Minister Shri Omprakash Sakhlecha and Minister for Medical Education, Bhopal Gas Tragedy, Relief and Rehabilitation Shri Vishwas Sarang participated via video conferencing