PN No. 18/(RE-99)/1997-2002 Dated 01-07-1999

Public Notice No.18(RE-99)/1997-2002 dated 01-07-1999.

Deemed export benefits for Talcher -II and Talcher - II Transmission Projects and Sasaram HVDC East-North Interconnector project under Paragraph 10.2 (d) of the Exim Policy, 1997-2002.

As per Paragraph 10.2(d) of the EXIM Policy, 1997-2002 read with Appendix 40 of Handbook of Procedures (Vol. I), l997-2002, supply of goods to projects financed by World Bank are entitled for deemed export benefits as given under Paragraph 10.3 of EXIM Policy.

Talcher - II and Talcher II Transmission Projects and Sasaram HVDC East-North Interconnector project are likely to be financed by World Bank. This matter of extending deemed export benefits for supply of goods to the above stated projects has been considered in consultation with Ministry of Finance and it has been decided that deemed export benefits as given under Paragraph 10.3 of the EXIM Policy shall be available for supplies of goods to the above stated projects, as if these projects are financed by World Bank.

(Amended vide Exim Public Notice No. 25(RE-99)/1997-2002 Dt. 28-7-99)

In case the World Bank loan fails to come through, for any reason, the deemedexport benefits would be available as if the supplies have been effected under Paragraph 10.2 of the EXIM Policy. However, in this case the Power Grid Corporation would return the cash equivalent of the deemed export benefits availed by the suppliers for the above stated projects.

This issues in the Public Interest.

Sd/-
(N. L. Lakhanpal)
Director General of Foreign Trade

Issued By:
Ministry of Commerce
New Delhi.

(Pl. refer PN No. 42/2002-07, Dt. 10/10/2002 for Deemed export benefits to Talcher Super Thermal Power project Stage II (4 X 500 MW), for Power Generation.)