US company to set up joint venture export unit in Bengal

Kolkata, Jun 27 (UNI) Close on the heels of the investment by Indonesian Salim Group, Tata Motors, Videocon, Reliance Industries Limited (RIL) and tobacco major ITC, a US company would set up a joint venture industrial unit in the state, pumping in Rs ten crore by next year.

Chairman of the California-based Nano Technical Industries Limited Richard D Siminski told newsmen after his meeting with Chief Minister Buddhadeb Bhattacharjee at Writers' Buildings here today that in order to set up a battery and allied product unit under joint venture with an Indian partner he had sought about three acre of land from the state administration.

" We have already visited a number of sites in different parts of South Bengal and selected a land at Sankrail in neighbouring Howrah district for the proposed plant, " Mr Siminski said adding he had also apprised the Chief Minister of the proposal in detail and Mr Bhattacherjee had promised his fullest cooperation.

He said construction of the plant would start immediately after the allocation of land and the production was expected to start from April next year with an initial investment of Rs ten crore.

Mr Siminski also said since the proposed plant would be an 100 per cent export-oriented unit, the entire production would be meant for export to China and Japan.

Incidentally, last evening Chairman of the cigarette major ITC Limtied Y C Deveswar called on Mr Bhattacharjee and promised to invest Rs 1,000 crore in a number of new projects, including those in Agro-processing, Information Technology, Logistics, Hotel and Retail units, within the next two years.

He had also sought about 70 acre of land from the state government for his expansion programme.

UNI ABA SJC RN1732