Date:13/05/2008 URL: http://www.thehindu.com/2008/05/13/stories/2008051353730600.htm

Tamil Nadu - Madurai

Chamber hails incentives to investors

Staff Reporter

MADURAI: The Tamil Nadu Chamber of Commerce and Industry has welcomed the host of incentives offered to investors by the State Government for establishing industrial projects in southern districts.

The incentives include treating the amount payable by industrial units set up in Madurai, Theni, Dindigul, Sivaganga, Ramanathapuram, Virudhunagar, Tirunelveli, Tuticorin and Kanyakumari, with investments of over Rs. 50 crore towards value added tax and central sales tax for three years and more, as seven-year soft loan carrying 0.1 per cent interest.

Industrial investments beyond Rs. 250 crore in southern districts were eligible for treating tax concession as grants. In a statement, Chamber president, S. Rethinavelu, said that with the impending transformation of Madurai Airport as an international one, the concessions would aid entrepreneurs from other districts in the State besides foreigners and people from other States to commence industrial ventures in southern Tamil Nadu.