MEMORANDUM OF
UNDERSTANDING MEMORANDUM OF
UNDERSTANDING
BETWEEN, the Chhattisgarh State Industrial Development Corporation (CSIDC) which
is the Industrial promotion agency of the Government of Chhattisgarh and Ind Agro synergy limited, Nagpur for a total proposed
Investment of Rs. 413 Crores in the State of Chhattisgarh.
The capital investment in the first phase would be Rs. 147 crores.
This Memorandum of understanding is made on this 5th day of March, 2003, at Raipur,
between Chhattisgarh State Industrial Development Corporation Limited (hereinafter
referred to as the “CSIDC” which expression shall, unless repugnant to
the context or the meaning thereof include its successors and assigns) of the FIRST PART. AND
Ind Agro Synergy Limited (hereinafter referred to as “IASL” which expression shall unless
repugnant to the context or meaning thereof, includes its successors, executors and
assigns) of the OTHER PART.
AND WHEREAS Ind Agro Synergy Limited is
desirous of setting up the following manufacturing facilities in the State of
Chhattisgarh with Proposed Investment of Rs. 413 Crores, including Rs. 147 crores in
the First Phase : - -------------------------------------------------------------------------------------------------- S. Project
Capacity
Investment No.
(Rs. in crores) -------------------------------------------------------------------------------------------------- 1. Sponge Iron, Steel Billets 4,00,000 Lacs
Tons PA
350.00 2. Power
8 MW
-------------------------------------------------------------------------------------------------- 3. Coal Washery
1.26 Million tons P.A.
63.00 -------------------------------------------------------------------------------------------------- Total
413.00 --------------------------------------------------------------------------------------------------
WHEREAS the CSIDC 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 facilitating 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/Private land required for setting of these projects and permission for optimal drawl of water required for
the project, from viable sources, as well as
facilitate recommendation of the State Government for grant of Mining leases for the project’s requirements
as per existing policy of the Government.
NOW THEREFORE, in consideration of the foregoing and all other related factors, the
CSIDC and Ind Agro Synergy Limited 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. It is agreed by the Parties
hereto that Ind Agro Synergy Limited
will setup the aforesaid projects in the State of Chhattisgarh, wherein the CSIDC
and the State Government agencies will extend fullest cooperation for successful
implementation of these projects. 2. The CSIDC will facilitate
allotment of approx. 200 acres of land free of all encumbrances by the State Government as
per rules as required for implementation of these projects. 3. The CSIDC will facilitate
Government permission for optimal drawl of water from viable sources for operation of the
aforesaid projects as prevailing policy of the State Government. 4. The CSIDC will
facilitate State Government’s recommendation to the Government of India for allotment
of suitable Coal blocks for Captive Coal Mines in Chhattisgarh, as per the policy of the
State Government. 5. The CSIDC will
facilitate State Government’s recommendation to the Government of India for getting
the suitable iron ore mines, as per the policy of the State Government. 6. The CSIDC will
facilitate State Government’s recommendation to Ministries of Coal & Mines,
Power, Steel, Environment and Forest of the Government of India for necessary approvals,
clearances and sanctions, as per the policy of the State Government.. 7. The CSIDC will
facilitate construction of all weather road to the site as per provisions of the State
Government. 8. The CSIDC will
facilitate State Government permission for setting up of Captive Power Plant as per
prevailing Captive Power Policy of the State. 9. The CSIDC agrees to
facilitate the expeditious grant to Ind Agro Synergy Limited of all State Government
incentives and concessions as would be applicable to unit making investment of more than
Rs. 100 crores in the State of Chhattisgarh as per prevailing policy of the State. 10. The Ind Agro Synergy Limited is
agreeable to make investment of Rs. 147 crores within a period of three years from the
date of taking possessing of land free of all encumbrances. 11. The IASL should earmark separate funds for environmental upgradation and
social upliftment of surroundings areas/villages etc., to maintain the ecological balance. 12. The IASL will facilitate for the
development of ancillary industries. 13. The IASL will provide employment to
local people as per the Govt. policy.
For witness whereof the parties hereto have set their hands to this MOU on this day
of 5th March, 2003. SIGNED AND DECLARED BY : 1. For CSIDC
(A Govt. of Chhattisgarh Undertaking)
--sd--
(R.C.Sinha)
................................................
MANAGING DIRECTOR 2. For Ind Agro Synergy Limited, Nagpur
--sd--
(Satish Goel)
................................................
Chairman WITNESS:
WITNESS: |