NEIIPPNorth East Industrial and Investment Promotion Policy (India)
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One of the benefits of the NEIIPP, 2007 and Package for Special Category States was excise duty exemption for first 10 years after commencement of commercial production.
The rating revisions take into account the sustained improvement in ICL's overall financial performance, including operating profitability, return on capital, capital structure and debt coverage indicators in recent quarters, the reduced client concentration risk for the company, given the sales being made to steel producers in recent quarters, the favourable demand outlook of CPC, ICL's main product offering, particularly from the aluminum industry, the fiscal benefits available, under NEIIPP 2007 to ICL's main plant at Guwahati, and the locational advantage of its Guwahati plant, which is adjacent to the refinery of Indian Oil Corporation (IOC), resulting in low inward freight costs of RPC, its primary raw material.
This is the first claim under NEIIPP, 2007 which has been brought for the consideration of the Union Cabinet paving the way for approval of other similar cases.