The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
Funding Success...

Oxy Plus Scheme

 

Purpose/Objective Manufacture of Oxygen: Enterprises engaged in/propose to engage in manufacturing of Oxygen (Liquid or Gaseous Oxygen), oxygen cylinders, oxy generators, oxygen concentrators in own/lease premises.
Eligibility i. Both New and Existing MSME and large units are eligible.
ii. Existing units should have a satisfactory credit track record with existing banks /Financial Institutions.
iii. For New units, CIBIL track record shall be checked and it shall be satisfactory.
iv. CIBIL Score of the promoter shall not be less than 600.
v. CMR for existing units shall be 6 and below.
vi. Proprietary/partnership/Limited Companies are eligible.
Promoters having experience in similar industries will be preferred.
Loan Limit Minimum: Rs.10 Lakhs, Maximum: Need-Based
Promoter’s Contribution 25% of the project cost.
Debt Equity Ratio 3 : 1
Repayment Period 60 monthly installments including a moratorium of 6 months from the date of first disbursement.
Subsidy & Interest Subvention 30% backend capital subsidy,
a) to establish a manufacturing facility for commercial production of oxygen concentrators, oxygen cylinders and medical oxygen.

b) to establish a large liquid oxygen plant with a minimum capacity of 10 MT/day.
Expansion projects under (a) / (b) categories are also eligible for capital subsidy.

Interest subvention: All Industries are eligible for 6% interest subvention under this scheme.
Eligibility for backend capital subsidy and interest Subvention is subject to compliance of the conditions mentioned vide G.O.Ms.No.154 of Industries (MIB.1) Department dated 12.05.2021 and any other Governement guidelines.

Rate of Interest The interest rate shall be 12.00% per annum i.e., PLR+0.05% with reset clause. The effective net interest rate will 6% p.a. including the 6% interest subvention.

  • In case of default, a penal interest of 2.5%p.a. shall be charged for the defaulted amount.
  • The Interest is payable on monthly rests along with the principal installments.

Collateral security As per norms.
Validity of Scheme The scheme shall be valid till 31.03.2022.
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