Bengal govt clears land ceiling hurdle

Our Bureau Updated - March 12, 2018 at 06:18 PM.

The West Bengal Government on Tuesday cleared the land ceiling hurdle faced by JSW Steel in setting up the proposed three million tonnes integrated steel plant at Salboni in West Bengal. Land was considered the single biggest hurdle before the project.

According to the State Commerce and Industry Minister, Mr Partha Chatterjee, the Government has cleared a proposal from JSW Steel for regularising the company's possession of 297 acres of land, directly purchased from the farmers. The company was holding the land – dispersed across the proposed project area of 4,334 acre – without due notification under the Land Reforms Act, 1955.

According to sources, with land ceiling issues being cleared, the JSW may now proceed to enter into the lease deeds. Also awaited is a pact with the State Government against the allotment of water.

“We (JSW) are already offered a letter of allotment by irrigation department. Discussions are on to transform the same into a firm agreement,” a company official said.

Once the agreements are in place JSW can approach the banks for achieving financial closure.

Published on November 1, 2011 15:57