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Punjab Agro Industries Corporation Limited

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Conditions

CONDITIONS & CONCESSIONS FOR AGRI MEGA PROJECTS

1.         Conditions at the time of submission of the Project
            Fixed Capital Investment in the proposed Project would be Rs.25 crore or more.

2.       Conditions of LOI after fulfillment of which Agreement is to be signed.

           i.     In principle approval of the financial institution / bank for funding the project may be submitted by                  Promoter to the concerned Nodal Agency. If the project is to be set up entirely with own funds, the                  details of financial resources may be provided.

          ii.     Details of land on which project is to be set up may be given.

3.         Time-period
            The Project will have to be implemented in 5 years from the date of signing of agreement by the  Company             with State Government, unless extended for further period of not more than 1 year by the Government on             the request of the Promoter for the reasons to be recorded in writing.

4.         Concessions
            (a) Fiscal

    • 100% exemption from payment of Mandi Fee, Rural Development Fee and Infrastructure Cess on purchase of fruits & vegetables directly from farmers for processing by the unit for 10 years.
    • 75% exemption from payment of mandi fee, rural development fee and infrastructure cess on purchase of non-FCI grade foodgrains, barley and maize (except custom milling of paddy) directly from farmers for processing by the unit for a period of 10 years. In case of non-FCI grade paddy, the concession will be as under: Exemption from payment of Mandi Fee, Rural Development Fund and Infrastructure Development Cess to the extent of 1% each subject to a maximum of 50% of fixed capital investment or for a period of 10 years whichever happens earlier, on purchase of non-FCI grade paddy. This concession will be subject to the following conditions:
        • Unit should be located in any of the specified districts of Amritsar, Tarn Taran, Gurdaspur,  Kapurthala, Jalandhar, Hoshiarpur, Mohali, Ferozepur, Faridkot and Muktsar, where availability of  paddy is in excess of the milling capacity.
        • Unit should deploy modern state-of-the-art technology to ensure production of high quality rice. The Deptt. of Food & Civil Supplies shall confirm this.
        • Unit should be an integrated one. The by-product i.e. rice husk should be used for co-generation of power for captive use. The capacity of the co-generation unit should correspond to the availability of  rice husk/biomass generated by the mill. The matching capacity of the co-generation unit shall be confirmed by PEDA.
        • Unit should ensure establishment of corresponding covered scientific warehouse for storage of rice.
        • Allotment of FCI grade paddy to a mega unit shall be as per the policy of the Deptt. of Food & Civil Supplies prevailing at that time.
        • On inspection, if the unit is found evading tax, etc. The concessions will be liable to be withdrawn.
        •  The Committee further observed that there would be sufficient rice milling capacity by 2014. So, the units approved by Empowered Committee now as mega projects should come into operation by 31.10.2013 to avail concessions under this policy.
    • Exemption from basic stamp duty at the current applicable rate on purchase of land for the  designated purpose.
    • Declaration of factory premises of the unit as private Mandi yard and permission for direct  purchase of foodgrains/maize/barley/fruits/vegetables required for processing by the unit.
    • 100% exemption on electricity duty on captive consumption of power generated by the unit.
    • 5% exemption on electricity duty on purchase of power from Punjab State Power Corporation Ltd. for 5 years from the date of commencement of commercial production. 
    • Link Advance Consumption Deposit with the actual consumption of power. However, in the first    instance, the unit will deposit ACD at applicable rates. 
    • Supply of power as per normal rates available to continuous processing industry. However, the unit will pay nominal peak load charges.  

      (b) Facilitation

        • Sanction of power connection by Punjab State Power Corporation Ltd. within a stipulated period of 60  days from date of filing of application with them.
        • Single window clearances for pollution/environment, change of land use, and sanction of buildings and all  architectural plans.
        • Last mile connectivity in respect of metalled road and street lighting from main road to the project site.
        •  Issuance of Licence on Fast Tract for brewing of Beer and Distillation of Grain alcohol.
        •  Treating Agri Mega Projects on par with the IT industry regarding working hours by Department of  Labour.
        • Allotment of land wherever Panchayats are willing, as per the policy of Department of Rural  Development and Panchayats.

5.        Above concessions may be given as a matter of practice in each case. Additional concessions may be            considered by the Empowered Committee keeping in view the nature and special circumstances and the            size of the project.
6.        Notifications in respect of exemption of mandi fees and electricity duty will be issued subject to the following            conditions being fulfilled:
          - The unit has made atleast 50% of the proposed fixed capital investment;
          - The complete project or a production line has commenced commercial production;
         - The company has submitted a certificate duly signed by its Managing Director and a chartered  Accountant             in practice for at least 5 years confirming headwise investment and the date of start of  commercial             production;
         - The Nodal Agency has got the physical inspection of the unit carried out through a Committee comprising             representatives of Food & Civil Supplies Deptt., Punjab Mandi Board and Nodal Agency, and sent its             recommendation to the Department of Agriculture/Department of Power as the case may be for issuance of             the requisite notification;
        - The nodal agency in association with Punjab Mandi Board shall carry out audit of the processing of             Non-  FCI grade paddy by the unit from time to time.

The notification with regard to exemption of stamp duty shall be issued before purchase of land by the applicant.

 
 
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