Another project by meets a roadblock in Bengal

24-Oct-07

Purnendu Chatterjee's group company- Asian Gateway (AGL), has meet with hurdles in Bengal state. AGL has been forced to delay its proposed IT SEZ on 500 acres in Siliguri because of an inability to complete land acquisition on time. Infact, there is no assurance when the company will manage to start buying land because of the continuing volatility surrounding land-related issues in Bengal following Nandigram. AGL has managed to obtain an extension from the Board of Approvals (BoA) to complete land acquisition. The BoA is the final authority on SEZs Earlier this month, the Union Cabinet had cleared a "Resettlement and Rehabilitation policy" making it mandatory for companies to directly acquire 70% of the land necessary for a project before they could seek the state's help for the balance 30%.