ET reported that Adhunik Corporation, which is planning to set up an integrated steel plant in West Bengal, has received allotment of a substantial portion of its required land, in what comes as a major boost to the company’s proposed INR 7,000 crore steel and power venture.

West Bengal Industrial Development Corporation which facilitated land for the project confirmed that Adhunik has just been provided 505 acres at Raghunathpur in the state’s industrially backward Purulia district.

The company had requested for a total of 700 acres in the area.

The company had entered into an MoU with the West Bengal government for the proposed project in December 2007. As per the MoU with Adhunik Corporation, WBIDC and West Bengal Mineral Development & Trading Corporation will facilitate land, coal and water for the project.

Adhunik Corporation’s project involves setting up a steel plant with a capacity of 1.1 million tonnes per annum along with a 1,000MW captive power plant and a 1 million cement plant at Raghunathpur.

(Sourced from ET)