Aid to reopen closed industrial units in Palakkad

The District Industries Centre (DIC) right here will present assist to revive closed industrial units in the district. The DIC will surrender to ₹15 lakh for the restoration of industries which were mendacity closed for greater than six months and have the potential for revival.

The industrial resurrection scheme is being carried out by the State Department of Industries and Commerce below a programme titled Revival and Rehabilitation of Defunct MSMEs (Micro, Small, Medium Enterprises) and Cashew Processing Units.

Industrial units that stopped functioning due to the ban on plastic can be exempted from the six-month-closure clause. The DIC will provide capital grants and dealing capital incentives for the revival of the MSMEs. When

₹12 lakh can be given in assist for defunct MSMEs, ₹15 lakh can be given for defunct cashew-processing units.

For constructing renovation, 25% of the whole revival undertaking value can be given. However, this could not exceed ₹2 lakh. For plant, equipment and electrification, 40% of the whole revival value can be given. However, this could not exceed ₹8 lakh.

Up to 50% margin of the working capital can be given in this scheme. The assist in this phase can be restricted to ₹2 lakh for defunct MSMEs and ₹5 lakh for cashew units. For working capital revival, there needs to be loans from permitted monetary establishments. For the renovation of constructing, plant, equipment and electrification, it isn’t necessary to have a mortgage.

Applications

Applications might be submitted in the prescribed format with the mandatory paperwork to Assistant District Industries Offices in the Palakkad, Ottapalam, Mannarkkad, Chittur and Alathur taluks. The purposes

needs to be really helpful by Industries Development Officers of block panchayat and municipal workplaces.

The defunct industries getting monetary assist from the DIC ought to resume functioning in three months and will proceed not less than for 3 years. Failure in this will invite authorized proceedings and punitive motion, stated the DIC basic supervisor.

For particulars, the DIC right here might be contacted at 0491-2505385 or 2505408.

Taluk-level industries centres too might be contacted at 0491-2505570 (Palakkad), 0492-3221785 (Chittur), 0492-2224395 (Alathur), 0466-2248310 (Ottappalam) and 0492-4222895 (Mannarkkad).