State government to ink MOU with center for development of Nayachar as a PCPIR

26-Oct-09
Bengal state government is to ink a memorandum of understanding (MOU) with the Centre at the end of the month, for the development of a chemical hub across Nayachar and Haldia. The pact will outline the role and responsibilities of the state and the Centre on developing the hub, in which the centre will invest Rs 2,508 crore over 5 years in developing infrastructure. On the state’s part, private developer New Kolkata International Development (NKID), the joint venture by the Salim Group of Indonesia and NRI Prasoon Mukherjee, will build infrastructure on Nayachar island and Haldia. A management board will be set up to oversee work on the Nayachar hub. State officials expressed hope of being able to clear the green hurdle before the project. The terms of reference for its environment impact assessment are ready. A private firm has been hired to do a detailed study that will form the basis of the assessment.
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