Kochi: Kitex Group Chairman Sabu M. Jacob has said that Tamil Nadu has invited interest after announcing its withdrawal from the Rs 3,500 crore investment project to be launched in Kerala. ‘Although an official invitation has been received from Tamil Nadu, five other states have also expressed interest in the project. We will consider setting up the project in the state where the best conditions are in place, ”Sabu said.
Sabu said Guidance Tamil Nadu Associate Vice President Gaurav Daga had sent an email on behalf of the Tamil Nadu Industries Minister promising him a number of benefits to start a business. 40% subsidy on investment, land at half price, 100% discount on stamp duty, 5% interest rebate for 6 years, 25% subsidy on environmental protection, 50% subsidy on intellectual property expenses, Rs. He said the government had promised 100% subsidy, electricity for less than 5 years, 100% state GST exemption on capital assets and 20% of workers’ wages for up to 10 years.