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Johannesburg - Mass producer of wood-based panels, William Tell Holdings [JSE:WTL] said on Friday it had received R9m in respect of a first R15m grant from the Department of Trade and Industry (DTI).
A second R15m is due to it next year.
The grant comes as part of a Manufacturing Investment Programme which is administered by the DTI.
"This amount is non-taxable, non-repayable and will be amortised to income over the useful life of the plant, being 35 years in accordance with IFRS," William Tell said.
Payment of the R6m balance is expected by December 31, the group said.
The full DTI grant is for R30m payable in two tranches of R15m each.
A second R15m is due to it next year.
The grant comes as part of a Manufacturing Investment Programme which is administered by the DTI.
"This amount is non-taxable, non-repayable and will be amortised to income over the useful life of the plant, being 35 years in accordance with IFRS," William Tell said.
Payment of the R6m balance is expected by December 31, the group said.
The full DTI grant is for R30m payable in two tranches of R15m each.
