The Hindu : Business : Videocon to set up steel, power plants

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Friday, Oct 05, 2007
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Videocon to set up steel, power plants

Staff Reporter

To invest Rs. 15,000 cr. in West Bengal

KOLKATA: The West Bengal Government is trying its best to industrialise the State by developing manufacturing and knowledge-based industries, Chief Minister Buddhadeb Bhattacharjee said here on Thursday.

With the Videocon group set to invest Rs. 15,000 crore in steel and power sectors in the State, Mr. Bhattacharjee pointed out that steel was important among manufacturing industries.

Videocon signed a Memorandum of Agreement with the State Government in the presence of Mr. Bhattacharjee for its three million tonne integrated steel plant and 1,200 MW power plant, to be located in the Barabani-Jamuria area in the Burdwan district. It is the company’s maiden venture into the steel sector.

Mr. Bhattacharjee said that though iron ore was not available in the State for geographical reasons, around six to seven steel companies had decided to invest in the State. The targeted investment in this sector had crossed Rs. 90,000 crore, with the potential to employ at least one lakh people.

The proposed plant is expected to manufacture value added steel that can be used by automobile and shipbuilding units. The total complex will come up on 2,500 acres and can employ 10,000 people directly and indirectly.

Petrochemicals’ being another thrust area, the State was going to set up a chemical zone, extending the present one at Haldia to Nayachar. “We have invited Central government agencies to give permission to start work at Nayachar,” Mr. Bhattacharjee said.

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