New Delhi [India], Dec 15 ( ANI ): The Cabinet Committee on Economic Affairs (CCEA) today approved capital investment subsidy to four industrial units located in North Eastern Region (NER), including Sikkim under Central Capital Investment Subsidy Scheme (CCISS), 2007 of North East Industrial Investment and Promotion Policy (NEIIPP
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.
Government has announced a fiscal package of incentives under North East Industrial Investment Promotion Policy (NEIIPP
), 2007 with effect from 1st April, 2007 with the objective to promote industrialization in the States of NER.
The rating also factors in the experience of the promoters in operating cement manufacturing plants in the North East, the fiscal benefits that the company is entitled to as per the North Eastern Industrial and Investment Promotion Policy (NEIIPP
) 2007 and the captive source of adequate limestone, which is a key raw material for the production of clinker.