The state cabinet today cleared incentives to be offered to a private company that is investing in a Rs 200 crore plant to package soft drinks in Garo Hills.
Land for the plant was handed over by the Chief Minister earlier this year to representatives of Varun Beverages Ltd, which is going to set up the facility in the Mendipathar industrial area, the first of its kind project in Garo Hills.
The cabinet took up the proposal in its meeting today to clear customised incentives as per the Meghalaya Industrial policy of 2024; under this, where investments are over Rs 100 crore, certain special incentives can be given by the state.
Chief Minister Conrad K Sangma said that this is again in line with what many other state governments have done, so the cabinet has also decided to support this particular company.
“In this, an amount close to 30 percent more capital investment subsidy, which they (Varun Beverages) has requested over and above the normal amount that is given another additional amount of 30 percent more is being added to that capital subsidy. Rs 7.5 crore is the capital subsidy and an additional Rs 5 crore is being proposed. The demand from the company was about close to Rs 40 crore of investment but the state government reduced it to Rs 5 crore,” informed Sangma.
A minimum of 500 jobs is expected from this plant.
The project comprises investment in a Rs 200 crore plant and an additional Rs 100 crore in terms of fruit pulp and fruit juice investment on the same campus.
The cabinet has agreed to give 2 percent interest subvention in this. The government will also reimburse GST to the company.
Apart from packaging PepsiCo products, the plant will also process pineapple and other fruits, the CM said, which will be a great plus point for Meghalaya.
The government has insisted on 90 percent of non-managerial staff being local. A phased increase of local managers is also part of the agreement, from 25 percent in the first two years to 50 percent later on.
Meanwhile the cabinet also approved the proposal of renaming certain roads, villages, buildings, etc.
A few roads like the approach road from National Highway 217 to Baghmara will be renamed as Captain Williamson Sangma Road, also the Raitong building is proposed to be named as Lum Shillong Building. A proposal for the road from Sohra Gate Nongsawlia via Saitsohpen to Mawsmai road has been proposed to be renamed as U Thomas Jones Road. There was a proposal to rename a road from Mawkhar Community Hall to Jaiaw-Langsning Community Hall as Dr H Gordon Roberts Road. The road in Tura from PA Sangma Stadium towards Holy Cross Hospital will be called Bishop George Mamalassery Road.