A vaccine production unit will be set up at the Impression Life Science Park

Trending 2021-09-08

newsteamz_A vaccine production unit will be set up at the Impression Life Science Park
  • The Cabinet has decided to start the production of the vaccine at the Science Park located at Thonnakkal, Thiruvananthapuram.

  • The special package will allow anchor industries that are preparing to start a vaccine production unit.

  • The land will be leased for 60 years with a subsidy of 50 percent of the lease premium.

The Cabinet has decided to start the production of the vaccine at the Science Park located at Thonnakkal, Thiruvananthapuram. The special package will allow anchor industries that are preparing to start a vaccine production unit. As part of this

The land will be leased for 60 years with a subsidy of 50 percent of the lease premium. Stamp duty and registration fees will be waived for registering a lease agreement with KSIDC.

Providing attractive loans for entrepreneurs with fixed-term repayments of 20 years through financial institutions under the State Government. In addition, up to 30 percent of the cost of equipment, plant and machinery will be provided within Rs 1 crore per fill-finish unit, Rs 5 crore per vaccine production unit, and subsidized capital assistance.

The credit limit for the manufacturing unit will be fixed at Rs 20 crore for the Phil Finish Unit and Rs 30 crore for the Vaccine Production Unit. The total credit limit will be within `100 crore. One-stop approval and fast-track approval for the project will be granted within 30 days. Water charge subsidy will also be given on the bill amount for two years from the date of commissioning. A subsidy of Rs 2 per unit will be given on the bill.

The 85,000-square-foot building to be completed at Life Science Park will be leased if it is suitable for setting up vaccine production units.

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