Business Daily from THE HINDU group of publications
Tuesday, Jan 22, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 22, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
Corporate
-
New Projects Web Extras - Steel
Phalguna Jandhyala Jagdalpur (Chhattisgarh), Jan. 21 Tata Steel hopes to complete acquiring land for its proposed 5 million tonne (mt) steel plant in Chhattisgarh by the end of the current financial year. The company is looking at acquiring around 2,044 hectares for its project located in Lohandiguda in the Bastar District of the State. “The land is spread across 10 villages and we have approached 8 villages so far. In these 8 villages out of the 1,357 land owners, 925 have given their consent and have accepted the compensation. The others are also coming forward and taking the reimbursement as and when they require it. The whole process is expected to be completed by March this year,” a company official told Business Line. Tata Steel is looking to invest around Rs 16,000 crore in the greenfield project, which would be completed in two phases. “The plant is expected to be commissioned in 36 months, from the time the land has been acquired by the company. It is also expected to provide direct employment to around 5,000 people in the region and close to 6,000 people will get indirect employment,” he said. Rehab packageAccording to the official, the rehabilitation package that the State Government proposed has been accepted by the people and there were only a few who protested. “For a barren, unirrigated land the State Government has offered Rs 1 lakh per acre as compensation. Likewise for a single crop unirrigated land and a for a double-crop irrigated land compensation worth Rs 1.5 lakh and Rs 2 lakh per acre respectively have been offered,” he added. The State Government has also said that those land owners who would stand to lose more than 75 per cent of their holdings on acquisition would be eligible for land-for-land compensation apart from the regular compensation. “Those who will lose an acre to 2.47 acres will get equal amount of land lost and those owners losing more than 2.4 acres will be given a maximum of 2.47 acres apart from a compensation of Rs 10,000 per acre up to a maximum of Rs 25,000,” the Government said. Further, the Chhattisgarh Government has also exempted the stamp duty within three years of a new land being purchased. With regard to the compensation for a house, the State Government has said that an alternative accommodation of 400 sq plinth area will be given along with a cattle shed or a cash component of Rs 1 lakh for the house and Rs 10,000 for the cattle shed would be provided.
“Apart from the compensation aspect we have also said that all displaced people between 18 and 35 years will be given an opportunity for technical training. Further, the affected adults who might not be able to work in the plant will be able to work in an agricultural farm area selected by the Government,” the company official said. He added that the person will be given an option to invest some of this compensation as capital in this enterprise along with employment and will also be made a part of the shared profit of the enterprise. More Stories on : New Projects | Steel | Tata Steel Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|