Saboo Sodium Chloro signs MoUs with Rajasthan government for hospitality projects
Saboo Sodium Chloro Ltd (SSCL) has signed multiple Memorandums of Understanding (MoUs) with the Rajasthan government to develop hospitality projects, marking a significant diversification for the salt manufacturer.
The shares of Saboo Sodium Chloro Ltd (SSCL) were trading at ₹27.34, up by ₹1.30 or 4.99per cent on the NSE today at 12:15 pm.
The company has directly committed to two resort projects: a ₹400 crore Samskara Resort in Udaipur and an ₹85 crore resort in Jodhpur. Through its associate firm Villashare Tech Pvt Ltd, in which SSCL holds a 20 per cent stake, the company has additional investments of ₹425 crore, including a ₹75 crore resort in Sawai Madhopur and a ₹350 crore Crown Plaza Hotel in Jaipur.
The projects are expected to generate substantial employment, with the SSCL-led initiatives promising 550 direct jobs and the Villashare projects creating 300 direct employment opportunities. Both are slated for completion by 2026-2027.
The Rajasthan government is offering significant financial incentives, including a capital subsidy of up to 20 per cent of eligible fixed capital investment, 100 per cent exemption from stamp duty and electricity duty for seven years, and additional sector-specific boosters. SSCL estimates total savings over the 10-year subsidy period could exceed ₹150 crore.
These investments align with the state’s ‘Rising Rajasthan 2024’ initiative, positioning the company to leverage government support in expanding Rajasthan’s hospitality infrastructure.
