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Bengal Ready To Steel A March With Two New ProjectsBy Mrs Gupta, Section Development
West Bengal is poised to enter the big league of steel manufacturers after inking two new projects with Videocon and Jai Balaji groups on Thursday. This takes the number of mega steel plants present and proposed to five. The Jindal group had earlier announced a steel plant at Salboni. Durgapur Steel Plant and SAILISP are the two state owned mega steel plants that are currently in operation.
The two memoranda of agreements that Videocon and Jai Balaji groups signed on Thursday are worth Rs 31,000 crore, taking the total investment pledged in the sector to Rs 70,000 crore. The state now ranks third after Orissa and Jharkhand, where investments have crossed Rs 1,00,000 crore with projects by Posco and Arcelor Mittal under their belt. After signing the pacts, chief minister Buddhadeb Bhattacharjee said the government would now focus on downstream steel industry like engineering and auto components. He also stressed the need for setting up more technical colleges in backward districts like Purulia and West Midnapur. Most of the steel plants are located in these districts. With the deals now sealed, West Bengal Industrial Development Corporation has to acquire nearly 7,000 acre at the two locations within two months. Videocon group chairman Venugopal Dhoot said the steel plant would be completed in four years and employ over 10,000 people. "As per the MOA, there are two options for land acquisition: either the government does it and hands it to us, or act as a facilitator for direct purchase," he said. Videocon needs 3,000 acre for the 3 million tonne steel plant and the 1,600 MW power project.
State industry secretary Sabyasachi Sen said WBIDC was likely to acquire the land for Videocon as well as Jai Balaji. "WBIDC is acquiring land for the Jai Balaji project at Raghunathpur in Purulia. It will do so for Videocon at Barabani in Burdwan," he said.
Videocon does not expect any problems in land acquisition and is willing to accommodate the 60 families residing on the identified plot in the project. While Videocon will produce value added cold rolled steel for automobile and engineering industry, Jai Balaji will set up a 5 million tonne steel unit along with a 3 million tonne cement grinding plant. "We want to train locals so that they can be absorbed later," said CMD Aditya Jajodia, adding that efforts were on to tie up with a reputed technical institute for setting up a steel technology institute in Purulia. Source:The Times Of India,05-10-07
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