Amendment status not verified — confirm the current text below against the official source.
Definitions: i. Garment/Apparel/Made ups: Wearable or non wearable stitched fabrics of which at least two sides of the fabrics are stitched using sewing machinery. ii. SPV: Special Purpose Vehicle formed as a corporate body registered under Companies Act. SL. NO. PARTICULARS Description 1 APPAREL UNITS • For Apparel units where employment is minimum 200 workers at any given time in a year after commencement of commercial production : • A Unit will receive an incentive of Rs 1000/- per worker per month on actual employment by the unit, on financial year basis. This facility will be available to a Unit for a period of 36 months where minimum employment conditions are met. • 90% workers (unskilled, semi skilled, skilled) must be domicile of Odisha. 2 APPAREL PARK a) Capital grant of 20% of project cost of the park excluding cost of land, limited to maximum Rs. 20 cr. towards development of common infrastructure, common facilities and factory buildings if owned by SPV. (This incentive may be availed either from IPR,2015 or from this policy.) b) Interest free loan up to 10% (subject to maximum limit of Rs. 10 cr.) of project cost excluding cost of land. After a moratorium period of 2 years from date of disbursement of loan, SPV shall repay within five years @ minimum 20% per year, with an option to prepay the loan. 3