The Nashik Municipal Corporation (NMC) has decided to give concessions to Mahindra & Mahindra (M&M)'s multi-utility vehicle project "" Injenio. | |
| The proposal regarding octroi concession for the Rs 550-crore Ingenio project was passed at the recent general body meet. |
| |
| With an aim to attract large industries to Nashik, NMC had chalked out octroi norms, which were approved at its meeting in December 2006. |
| |
| As per new norms, NMC gives part octroi concessions to new mega industrial projects and has determined the minimum investment for industries with various categories. |
| |
| For new auto and food industries, the minimum investment is Rs 500 crore and Rs 250 crore, respectively, while IT-related new industry will require a minimum of Rs 200 crore. |
| |
| Part octroi concessions are given on imported components, ancillaries and machineries. |
| |
| But, this concession is not given on building materials (eg steel, cement, brick and electric items) for construction of plants. |
| |
| Part concession in octroi has already been given to Mahindra Renault for its Logan project. |
| |
| M&M has set up a new facility adjacent to its existing Nashik facility to manufacture Ingenio. |
| |
| The facility is expected to start commercial operations shortly. |
| |
