Fujiyama Power Systems Ltd. Secures Rs. 8.21 Crore Incentive Agreement in Uttar Pradesh
Fujiyama Power Systems Limited, formerly Fujiyama Power Systems Private Limited, announced today an agreement with UP Electronic Corporation Limited (UPLC), a subsidiary of the Government of Uttar Pradesh, for an incentive disbursement of approximately Rs. 8.21 Crores. The incentives are granted under the UP Electronic Manufacturing Policy, 2020 (1st Amendment-2022).The agreement pertains to the Phase-I implementation at the company’s Dadri Plant in Uttar Pradesh. The incentives are structured as follows:
| Particulars | Amount (in Rs.) | Criteria |
|---|---|---|
| Capital Subsidy | 7,50,00,000 | Disbursable in five equal yearly installments |
| Interest Subsidy | 29,61,664 | @5% p.a. on term loan, subject to a maximum of Rs. 1 Crore per year for a period of 7 years |
| Stamp Duty Reimbursement | 16,47,625 | 50% reimbursement of stamp duty paid |
| Lease Rental Reimbursement | 25,00,000 | 25% of lease rental charges up to Rs. 25 lakhs for a period of five years |
| Total | 8,21,09,289 |
The incentives are subject to the terms and conditions outlined in the approval letter from UPLC.
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