Artificial Electronics Intelligent Material Limited (AEIM), formerly known as Datasoft Application Software India Limited, has made a significant stride in its expansion plans by signing a Memorandum of Understanding (MoU) with the Government of Maharashtra. This agreement paves the way for the establishment of a state-of-the-art manufacturing facility for Saphire Ingots and wafers in the MIHAN Special Economic Zone (SEZ) located in Nagpur, Maharashtra.

The project comes with a massive fixed capital investment of ₹10,000 crore, underscoring AEIM's commitment to advancing technology and innovation in the manufacturing sector. As part of the agreement, AEIM will benefit from a range of government incentives provided under the Thrust and Hi-Tech Sector Government Policy for Ultra Mega Projects.

Key Government Incentives:

1. Capital Subsidy: AEIM will receive a capital subsidy of 30% on its fixed capital investment, which includes expenses related to technical know-how. This will significantly reduce the financial burden of setting up the facility.

2. Stamp Duty Exemption: The company will be granted a 100% exemption from the payment of stamp duty, which is a significant cost-saving measure when acquiring land and property for the project.

3. Electricity Duty Exemption: AEIM will benefit from an exemption on electricity duties, further reducing operational costs, especially crucial for energy-intensive manufacturing processes.

4. Interest Subsidy: The company will receive an interest subsidy of up to 4%, making it more feasible for AEIM to access financing for the project at favorable terms.

5. Power Tariff Subsidy: AEIM will also be provided with a power tariff subsidy at ₹3 per unit, reducing the cost of energy used in the manufacturing process.

6. Concessional Land Rates: The government will provide land at a concessional rate of 25% in MIHAN SEZ or MIDC lands, which will be essential for establishing the manufacturing plant.

7. Incentives for Captive Process Vendors: The incentives will also extend to fixed capital investments made by captive process vendors, ensuring a broader scope for the project.

These incentives are aimed at fostering the growth of the high-tech manufacturing sector in Maharashtra, providing AEIM with a strategic advantage in establishing its advanced facility in the MIHAN SEZ. The government’s support will help AEIM create a competitive manufacturing base for the production of Saphire Ingots and wafers, which are crucial materials in various high-tech industries, including electronics and photovoltaics.

AEIM’s investment in this manufacturing facility reflects the company’s vision of positioning itself as a leader in the electronics and materials sector. By capitalizing on the government’s incentive-driven policy, AEIM aims to reduce production costs, enhance competitiveness, and deliver cutting-edge products to global markets.

The company’s MoU with the Government of Maharashtra is a clear indication of AEIM's growth trajectory and its commitment to contributing to the economic development of the region. This facility will not only provide AEIM with significant cost advantages but also bolster the state’s industrial development, creating job opportunities and stimulating economic activity in the MIHAN SEZ and surrounding areas.

In conclusion, AEIM’s partnership with the Government of Maharashtra marks an important milestone in the company’s journey toward becoming a key player in the global manufacturing and materials sector. With a clear vision for the future and strong government support, AEIM is set to achieve significant milestones in the coming years.

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