Forming fresh developments with respect to investments in the state, BERGER Paints India Limited will now invest Rs 250 Cr expansion project in Anantapur district. This is in addition to the already existing 250 Cr project at Hindupur site, where Berger has its main water based plant.
The State Investment Promotion Board has come forth and shown agreement to extend investment options with convenient incentives for all the expansion projects coming from Asian Paints. The decision has been driven with the possible employment generation in the region and uplifting the developmental scope.
Because of the expansion projects, Berger has been requesting that state govt should provide them with flexible incentives under IIPP. To that effect, Asian Paints has been offered a reimbursement of gross VAT/ gross SGST to 100% of eligible investment coming from the company starting now to 12 years down the line.
The expansion initiatives from the player like Berger makes way for other investors to also consider the same option, looking at the flexibility coming from the state govt’s end to support their establishments.