Sunday, August 7, 2022

24% rebate in energy charges for steel rolling mills in Chhattisgarh: State govt

The Chhattisgarh government has decided to give a special 24 percent rebate in energy charges to stand-alone steel rolling mills for a nine-month period

Must read

New Delhi: The Chhattisgarh government has decided to give a special 24 percent rebate in energy charges to stand-alone steel rolling mills for a nine-month period, an official said on Wednesday.

The concession will be provided for the electricity consumed between July 1, 2022, to March 31, 2023.

The state government would bear the cost of rebate by making an advance payment to the Chhattisgarh State Power Distribution Company Limited (CSPDCL), the official said.

The objective was to help stand-alone rolling mills included in the HV-4 tariff category cope with competition following the implementation of a new power policy by the Chhattisgarh State Electricity Regulatory Commission, he added.

Constantly increasing coal prices and expensive electricity have affected the profitability of these mills and the rebate was aimed at protecting jobs, he said.

There are 175 rolling mills in Chhattisgarh including 125 in Raipur alone.

(With PTI inputs)

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

- Advertisement -

More articles

- Advertisement -

Latest News