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Ambar Singh Roy

It has now been agreed to renew most of the original land given on lease to Tata Steel on the original terms and conditions for a period of 30 years.

Jamshedpur , Aug. 19

THE much-awaited land lease renewal agreement between the Jharkhand Government and Tata Steel for around 64 sq km at Jamshedpur is scheduled to be signed at Ranchi on Saturday in the presence of the Jharkhand Chief Minister, Mr Arjun Munda.

Mr P.P. Sharma, Chief Secretary of Jharkhand, will sign the agreement on behalf of the State Government, while Mr B. Muthuraman, Managing Director of Tata Steel, will sign the agreement on behalf of the company.

Mr Ratan Tata, Chairman of the Tata group, is expected to be present at the signing ceremony. It may be recalled that the earlier lease agreement was signed on August 4, 1984 which was given effect retrospectively from 1956 for a period of 40 years ending December 31,1995.

Thereafter, the Jamshedpur land lease came up for renewal in 1996. The matter was taken up by the Bihar Government but was delayed due to various reasons. It was taken up again after the creation of Jharkhand.

However, the matter was caught up in administrative and legal tangles for five years. Tata Steel had even approached the Jharkhand High Court for settlement of the matter.It has now been agreed to renew most of the original land given on lease to Tata Steel on the original terms and conditions for a period of 30 years with retrospective effect from January 1, 1996. The exact amount that would be payable to the State Government by Tata Steel as lease rental would be made available on Saturday. The land that would be leased out to Tata Steel includes factory land, land for residential purposes, land for civic amenities, land which has been sublet by Tata Steel, and some vacant land. Further, Tata Steel would pay the State Government Rs 150 crore for building sports infrastructure in Ranchi. In addition, the company would pay Rs 25 crore a year for the three-decade lease validity period to the State Government for community health schemes in the State.

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