Memorandum of
Understanding Chhattisgarh State
Industrial Development Corporation Limited AND Adhunik
Rollers Private Ltd. At Raipur MEMORANDUM OF UNDERSTANDING BETWEEN , the Chhattisgarh State Industrial Development
Corporation Ltd. (CSIDC) which is the investment promotion agency of the
Government of Chhattisgarh and Adhunik Rollers Private Limited (Comprising Adhunik,
Rollers Private Limited a Company incorporated under the Companies Act, 1956(1 of 1956)
and having its Registered Office at 1. Crooked Lane, Kolkata -700 069, and other
Companies, which may be incorporated to implement these Project(s) for proposed investment
of Rs. 173.59 Crores, in district Raigarh in the State of Chhattisgarh. This Memorandum of understanding (MOU) is made on this 3rd day of
February 2003 at Raipur between CSIDC (hereinafter referred to as the
“Corporation” which expression shall, unless repugnant to the context or the
meaning thereof include its successors and assigns) of the FIRST PART. AND Adhunik Rollers Private Limited (hereinafter referred to as
“ ARPL “ “which expression shall unless repugnant to the context or meaning
thereof, includes its successors, executors, administrators, representatives and assigns)
of the OTHER PART. AND WHEREAS ADHUNIK ROLLERS
PRIVATE LIMITED is desirous of setting up the following manufacturing
facilities in the State of Chhattisgarh with a Proposed Investment of Rs. 173.59 Crores. S.No. Project
Capacity
Investment
(Rs. In Crores ) 1. Sponge Iron
Plant
4,00,000 MT/Annum
68.98 2. MS Ingot/Billets
Plant
2,10,000 MT/Annum
36.06 3. Captive Power
Plant
20 MW
61.05 4. Coal Washery
72,000 MT/Annum
7.50 5. Captive Coal
Mines
6,00,000 MT/Annum
Total
173.59 Crores WHEREAS the “Corporation” acting on behalf of the
Government of Chhattisgarh agrees to provide all help, prevailing incentives and
facilitate clearances necessary for setting up the aforesaid Projects in the State of
Chhattisgarh including the acquisition of private land consistent with the various
Constitutional and Statutory provisions relating to such transfer of land as applicable to
the area of the projects; expedite allotment of Government land required for establishing
these projects and permission for optimal drawal of water required for the project from
viable sources of water, as well as facilitate the recommendation of the State Government
for the grant of Mining Leases for the project’s requirements. NOW THEREFORE, in consideration of the foregoing and all other
related factors, the “Corporation” and ARPL have agreed to do and hereby execute this MOU in order to enable such a large private
sector investment in the State of Chhattisgarh and for the aforesaid the Parties hereto
have agreed upon the terms, assurances, obligations and commitments .as set out herein
below :- 1. The
“Corporation” will facilitate allotment of optimum land required for the project
by the State Govt. in distt. Raigarh as per rules. 2. The
“Corporation” will facilitate Government’s permission for optimal drawal of
water from viable sources for operation of the aforesaid projects as per prevailing rates. 3. The
“Corporation” will facilitate State Government’s recommendation to the
Govt. of India for allotment of suitable coal, iron ore and dolomite blocks, on the basis
of availability in the state or outside the state. 4. The
“Corporation” agrees to facilitate expeditions grant (to ARPL) of the maximum
tax benefits/incentives as per the Industrial Policy. 5. The “Corporation” will facilitate necessary approval/clearances from various departments and statutory agencies such as Chhattisgarh Environment Conservation Board, Forest Department, Water Resources Department, CSEB etc. 6. ARPL will earmark a separate fund for environmental upgradation and social upliftment of surrounding areas/villages etc. 7. The
“Corporation” shall facilitate allotment of land for Railway siding as per
actual requirement & rules. 8. The
“Corporation” in consistence with State Government’s Energy and Captive
Power Policy with regard to establishment of captive power plant by the investor shall
assist in obtaining expeditiously all statutory and non-statutory clearances required for
implementation of power plants in the State from the competent authorities. It shall be
the responsibility of ARPL to obtain the clearances as provided in the laws related to
electricity. 9. The “Corporation” shall facilitate the availability of all incentives available for the investments of the scale envisaged under this MOU from the appropriate authorities relating to :-
a) Waiver of
‘Electricity Duty’ on consumption of electricity for a period of 15 years from
the Date of commencement of production by the units.
b) Exemption
from Entry Tax as per the Industrial Policy and rules thereof.
c) Waiver of
Stamp Duty , as per the Industrial Policy and rules thereof.
d) Infrastructure
Support as per Industrial Policy and rules thereof. 10. Any new or special incentives which may be
considered or announced by the Govt. of Chhattisgarh in future after signing of this MOU,
the same may be provided to ARPL. 11. ARPL will facilitate the establishment of
Ancillary industries by SIPB or any other Govt. Agency. 12. ARPL will provide employment to local people
as per the State Govt. Policy. For witness whereof the parties hereto have set their hands to
this MOU on this day of 3rd February of 2003. SIGNED AND DECLARED BY : 1.
For Chhattisgarh State Industrial Development Corp. Ltd.
(A Govt. of Chhattisgarh Undertaking)
--sd--
(R.C.Sinha)
MANAGING DIRECTOR 2.
For Adhunik Rollers Private Limited
--sd--
(Suresh Kumar Agrawal)
MANAGING DIRECTOR
WITNESSES: 1. ................................................ 2.
................................................ 3.
................................................
4.
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