State govt grants Rs 120-crore waiver to Hindujas

The state government has waived vacant land and property tax to the tune of Rs 120 crore, out of the Rs 171-crore originally imposed on Hinduja National Power orporation Ltd (HNPCL) by the Greater Visakhapatnam Municipal Corporation (GVMC) for setting up a 1,040 MW coal-fired thermal power in Visakhapatnam. The levy was slapped on Hinduja because it had not initiated the project even 12 years after being allotted 1,122.38 acre in the area. The project cost, according to current estimates, is said to be around Rs 5,000 crore.