PANAJI
Arvalem in Bicholim is likely to get an economic boost with the Goa State Investment Promotion Board (GSIPB) proposing to notify a 10,062 square metre area as an Investment Promotion Area following a pitch by Hue Pack LLP to set up a unit to manufacture sustainable packaging materials.
The packaging material has a ready market in multiple sectors like FMCG and pharma besides others.
Locals and general public have been asked to raise objections, if any, as also give suggestions on the proposal. These have to be submitted in writing to the Director of Industries, Trade and Commerce within 30 days.
Meanwhile, the State government also notified on Friday the ‘Goa Logistics and Warehousing Policy, 2023’ aimed at evolving a conducive ecosystem for logistic players and also warehousing.
The policy offers up to 5% interest subsidy to companies on loans taken for setting up logistics projects annually for three years.
Incentives of up to 15 % are also being offered for fixed capital investments through loans on buildings, plants, and machinery to set up integrated logistics parks, large warehouses, cold storage facilities and testing centres in backward talukas.
It also provides for further incentives in terms of higher FSIs which are to be formulated by the Town and Country Planning Department.
