Memorandum
of Understanding Between Chhattisgarh
State Industrial Development Corporation Limited For Establishment
of Industrial Estate 23rd Oct. 2002 MEMORANDUM OF UNDERSTANDING Between, the Chhattisgarh State Industrial Development
Corporation (CSIDC), Government of Chhattisgarh and Jindal Steel & Power Limited
(JSPL) with its plants at Raigarh and Raipur in the State of Chhattisgarh. The Memorandum of Understanding (MoU) is made on this 23rd day of
October 2002 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 Jindal Steel & Power Limited (hereinafter referred to
as’ JSPL ‘ which expression shall unless repugnant to the context or the meaning
thereof include its successor and assigns) of OTHER PART. AND WHEREAS, JSPL, which already owns and operates a large
industrial complex at Kharsia Road, Raigarh, with an investment of more than Rupees 1,000
crores, is desirous of establishing an Industrial Estate in private sector, in Raigarh
District, as per the provisions of the Industrial Policy 2001-2006 of the Government of
Chhattisgarh, for which the State Government has already given its consent. 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 aforesaid Industrial Estate in the State of Chhattisgarh,
consistent with the various constitutional and statutory provisions relating to the said
Industrial Estate, on the Corporation’s initiatives as we ii as through the
intervention of the State Investment Promotion Board (SIPB) under The Chhattisgarh
Investment Promotion Act, 2002 (hereinafter referred to as the ‘ACT). NOW THEREFORE, in consideration of the foregoing and all other
related factors, the Corporation and JSPL have agreed to do and hereby execute this MOU in
order to / enable the establishment of the proposed Industrial Estate in private sector in
Raigarh District. The parties hereto have agreed upon the terms, assurances, obligations
and commitments as set out herein below: 1. The Corporation shall
provide all necessary assistance in acquiring approximately 500 acres of land for the
proposed Industrial Estate and another adjoining land of approximately 250 acres for
development of common felicities, viz, transport area, housing and other social amenities,
in Villages Punjipatra, Tumidih, Jorapalli, Dhanagarh and/or nearby villages, all in
Raigarh District, subject to compliance of the state government’s policy for
acquisition of land. 2. The land for the proposed
Industrial Estate shall be acquired by the State Government in the name of JSPL. JSPL
shall have absolute power and authority to allot the land comprised in the proposed
Industrial Estate to different entrepreneurs desirous of setting up their units in the
proposed Industrial Estate on such terms and
conditions as may be mutually agreed upon from time to time between JSPL and the proposed
transferees. 3. JSPL shall have absolute
power and authority to develop, maintain and manage the proposed Industrial Estate to be
established over the land of Villages Punjipatra, Tumidih, Jorapalli, Dhanagarh and other
villages in Raigarh District. 4. JSPL shall be allowed to
draw power transmission line(s) from its existing captive power plant situated at Raigarh
or from the proposed independent power plant of Jindal Power Limited, to the proposed
Industrial Estate and to directly sell power to the industrial units set up in the
proposed Industrial Estate, as per provisions of the Power Policy of the Government of
Chhattisgarh, on terms and conditions to be mutually agreed between the entrepreneurs and
JSPL. 5. The Corporation shall
facilitate State Government assistance towards establishment
of common facilities, covering quality improvement, technology upgradation, market promotion and technical
skills in the proposed Industrial Estate upto a limit of Rs. 2.00 crores as per provisions
of the Industrial Policy. 6. The Corporation shall
ensure that State Government extends all incentives, concessions and amenities announced
in the Industrial Policy to all new / industrial units set up by the entrepreneurs in the
proposed industrial Estate. 7. The Corporation shall
assist in taking necessary steps for the grant of expeditious approvals under the purview
of the State Government for the speedy
implementation of the project (establishment of the Industrial Estate). Specifically, the
Corporation shall assist in obtaining clearances from the SIPB within the time limits for
each such clearance set out under the provisions of the ACT in respect of approvals from
the relevant agencies such as The Chhattisgarh Environment Conservation Board, the
Chhattisgarh State Electricity Board, other Departments and authorities under the control
of the State Government. 8. The Corporation shall
assist in securing permissions from the appropriate authorities under the State Government
for drawal of water from the viable sources for operation of the aforesaid project. 9. JSPL shall from time to
time provide technical know-how to the new units set up in the Industrial Estate on terms
& conditions to be mutually agreed between the entrepreneurs and JSPL, and provide
marketing support. 10. JSPL shall endeavour to provide
financial assistance to new industrial units in the proposed Industrial Estate on terms
and conditions to be mutually agreed between the entrepreneurs and JSPL. 11. JSPL shall initiate all necessary steps to
implement the project under the MoU, and with a view to contribute to the development and
socio-economic growth of Raigarh District, it shall provide employment to local people as
per the State Policy in this regard. In addition, JSPL shall endeavour to develop the
peripheral areas of the proposed Industrial Estate, especially in matters of basic needs
and environmental upgradation. 12. The status and progress of implementation of
the project shall be monitored on a continuing basis, at the level of the SIPB or any
other empowered authority, and at such frequency as may be mutually agreed upon, in terms
of the provisions of the ACT . FOR WITNESS WHEREOF, the Parties have set their hand to this MoU
on this day of 23rd October, 2002. Signed, sealed and delivered by within named CSIDC acting in the premises through its Managing Director --sd-- R.C.Sinha Managing Director Chhattisgarh State Industrial Development Corporation Signed, sealed and delivered by within named JSPL acting in the premises through its Vice Chairman & Chief Executive Officer --sd-- Vikrant Gujral Vice-Chairman & Chief Executive Officer Jindal Steel & Power Limited WITNESSES:
--sd--
--sd--
1. M.K.Pande, Jt. Secretary 2. Anand Goel, Director-JSPL |