Santosh Patnaik Amaravati

AndhraPradesh Government has sanctioned tailor-made incentives for My Home Industries Pvt. Ltd's greenfield cement manufacturing unit at Gamalapadu village of Dachepalli mandal in Palnadu district with an investment of Rs3,000 crore.

My Home Industries Pvt. Ltd has come forward to establish a new integrated cement manufacturing unit with a production capacity of 3.5 MTPA clinker and 3.5 MTPA cement to meet the growing demand from infrastructure and construction sectors with a massive investment with a potential to generate employment opportunities for approximately 2,000 people.

Tailor-made incentives for the project were approved under Andhra Pradesh Industrial Development Policy (4.0) 2024-2029. Date of commercial production is slated for March, 2029. Engineering and procurement work will start from next month.

The State Investment Promotion Board (SIPB), which met under the chairmanship of Chief Minister N Chandrababu Naidu recently, while considering the project on par with similar proposals of cement manufacturing units (mega projects) in the State for extending tailor-made incentives under the policy, recommended the project by encouraging it due to huge employment potential. The SIPB remarked that in respect of the request relating to temple/endowment lands located within the mining area, the board has recommended identification of an alternative site on mutually agreed terms with the consent of the local community and completion of the construction and consecration of the temple at the new location prior to commencement of any activity in the existing temple land.

The government through an order resolved to extend the tailor-made incentives to the project proponent by offering it up to 43.48 per cent of fixed capital investment (FCI), limited to Rs1,129.36 crore contingent upon completion of FCI of Rs2,597 crore by March 2029, under AP Industrial Development Policy (4.0) 2024-29 and capital subsidy of 39 per cent of eFCI, limited to Rs943.02 crore, to be disbursed over 10 years from DCP.

The company has been sanctioned power tariff reimbursement of Rs1/unit for 10 years from DCP, limited to Rs 186.34 crore, for energy procured from DISCOM and an additional incentive of 2 per cent of FCI (equivalent to 2.15 per cent of eFCI) under the capital subsidy will be admissible, subject to realisation of committed employment of 2,000, by March 2029 and in accordance with the applicable policy guidelines and verification by the competent authority.