The state Cabinet today formally approved the Videocon's Rs 15000-crore steel plant proposal in the state. The 3 million tonnes capacity steel plant would be built near Durgapur industrial town, about 170 km from Kolkata. The plant, when completed after next five-year, would employ about 10,000 unemployed youths.
The company would also build a 1200-MW capacity power plant in the vicinity for its own requirement.
State chief secretary A.K.Deb said all necessary arrangements had been made to acquire and transfer about 2,450 acres of land to the Videcon.
Deb said most of the land-owners near Durgapur had already agreed to sell their land to the company at the market prices. Moreover, a large part of the said lands had been under the possession of the government as `khas' lands.
Official sources said the Videocon chief would meet the chief minister soon to hold talks on the quick acquiring of the land and other allied matters.
The Videocon's steel proposal will be a part of the Rs 42,000-crore steel plant proposals offered to the state by different private entrepreneurs in the country, M/s Jindal, Bhushan Steel, Abhijit Steel and Jay Balaji steel. Beside these, the centre agreed to spend Rs 6,400 crore for revamping the Burn & Steel company at Asansol.
From: Tribune, Sep-26-2007
