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Top investors eyeing Singur

Despite uncertainty over the future of the Nano rollout from Singur, top investors in West Bengal putting up their projects in Kolkata, are confident that the situation will improve, reports Jaidev Majumdar.

kolkata Updated: Sep 10, 2008, 00:32 IST
Jaidev Majumdar
Jaidev Majumdar
Hindustan Times

Despite uncertainty over the future of the Nano rollout from Singur, top investors in West Bengal putting up their projects in kolkata, are confident that the situation will improve.

The Videocon Group has repeatedly said that its steel and power projects in West Bengal are shaping up well and the company has so far acquired 400 acres for its steel plant in the state. According to Videocon chairman V.N. Dhoot, the company has already been assured of coal linkages. Videocon has proposed a 3 million tonne (MT) steel and 1,200 MW power project in West Bengal for Rs 15,000 crore.

Steelmaker Jai Balaji Industries, which has also lined up a mega investment of Rs 16,000 crore for its 5 MT steel plant, also plans to offer jobs to people displaced by its proposed steel project in West Bengal. Aditya Jajodia, chairman and managing director Jai Balaji told Hindustan Times that the Singur stalemate has not affected the company and it is not apprehending any trouble with its project.

“We are not apprehending any trouble and we see the Singur trouble as a one-off event,” Jajodia said.

Sajjan Jindal, vice-chairman and managing director of JSW Steel which will pump in a Rs 35,000 crore for setting up the country’s largest steel plant here, is confident too that his project will not be affected by the Singur crisis. Jindal said that the company’s strategy to directly deal with farmers for acquiring land and making the land losers a stakeholder in the project has paid off. “If at all, there will be a short-term impact of Singur in the industrial climate of Bengal,” Jindal said.

Meet inconclusive,

deadlock continues

The first meeting of the committee on Tuesday to work out a solution to the Singur land issue failed to make any headway with the Trinamool Congress members sticking to their demand of 300 acres within the small car project area.

Industries Minister Nirupam Sen told reporters that such a demand was impossible to meet and there could be no violation to the pact with the Tatas, which mentions specifically that the mother plant and the ancillary industries cannot be touched.

Sen said Tata Motors managing director Ravi Kant has written a letter to him expressing satisfaction at the clarifications provided by the state government. “We have noted your clarification that the government will maintain the integrated nature of the auto cluster consisting Tata Motors and vendor park. Therefore, the government should not take any step which will disturb this agreement,” Kant wrote.

The Tatas had sought clarifications on Monday about the confusion after Sunday agreement when Trinamool chief Mamata Banerjee demanded quite a bit of land within the project.

ht epaper

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