Mumbai, Aug 24 (UNI) Tatas threat to pull out the Nano project from Singur in West Bengal following political conflict over the project will have a major impact on the industralisation of the Eastern State, leading Industrial body Assocham says.
Talking to newsmen here last night, Assocham Senior Vice President Sajjan Jindal, also the Vice Chairman of Jindal Steels, voiced grave concern over the development but was confident that the issue would be sorted out amicably to enable the project to go ahead in the interest of West Bengal.
Amidst the furore on the Singur project, Jindal Steel Works would initiate work on its new greenfield project in West Bengal where it is establishing a Rs 4,000 crore integrated steel plant in a 4,500 acre land in Salboni in West Midnapore District. Mr Jindal said that foundation stone will be laid for the first phase of the project in November for a six million tonne ore benefication and pelletaisation plant.
JSW Steel had signed a development agreement with West Bengal Government in January last year for a ten million tonne steel plant.
A separate company has been floated for the Bengal project by JSW.
Mr Jindal expressed reservation over the present rules on the Special Economic Zone (SEZ) Act with regard to land acquisition, which is currently the full responsibility of the project initiator and said that there should be some government intervention in Resettlement and Rehabilitation programme. He said ASSOCHAM would soon approach the government with a proposal on the issue.
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