Tamil Nadu government announces concessions to encourage medical oxygen production

A decision to this effect was taken at a high-level meeting chaired by Chief Minister MK Stalin which discussed measures to be initiated for attaining self-sufficiency in medical oxygen production
Representational Image. (Photo | Ashishkrishna HP, EPS)
Representational Image. (Photo | Ashishkrishna HP, EPS)

CHENNAI: The Tamil Nadu government has announced a special package of concessions to encourage production of medical oxygen and manufacture of instruments relating to it.

A decision to this effect was taken at a high-level meeting chaired by Chief Minister MK Stalin on May 11 which discussed measures to be initiated for attaining self-sufficiency in medical oxygen production.

The following are the concessions for oxygen production units to be established in Tamil Nadu:

1. Thirty percent capital subsidy in two equal instalments will be given to those units which invest in manufacturing oxygen concentrators, oxygen cylinders and medical oxygen in Tamil Nadu. To avail this concession, concerned units have to commence their production by August 15 this year. The investments made from January 1, 2021 to August 31, 2021 will be taken into account for extending this concession.

2. Thirty percent capital subsidy will be allowed for factories which establish plants with a capacity to produce 10 metric tonnes of liquid oxygen per day. The investments made between January 1, 2021 and November 30, 2021 will be taken into account for providing this concession and this capital subsidy will be given in a period of five years. Further for availing this concession, the concerned plant has to commence production before November 30, 2021.

3. The above factories will be provided loans immediately with six percent interest subsidy per year through the Tamil Nadu Industrial Investment Corporation.

4. The above factories will be allotted lands through SIPCOT/SIDCO on priority basis.

5. The above investors will be given clearance through single window system by Tamil Nadu Guidance Bureau

6. TIDCO will encourage joint ventures for producing oxygen concentrators, vaccines, and medical oxygen.

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