Finally, ITC to get land from WBIDC

The land hunt for diversified business conglomerate, ITC, in West Bengal finally seems to come to an end, with the West Bengal Industrial Development Corporation (WBIDC) likely to hand over about 18 acre to the company at Uluberia in Howrah on September 25.

ITC is expected to get the land at a price of about Rs 20 lakh per acre.

“WBIDC will hand over about 18 acre land to ITC on 25 September,” said Subrata Gupta, managing director, WBIDC, on the sidelines of an event of a seminar on asset reconstruction organised by the Federation of Indian Chambers of Commerce and Industry here today.

However, the land was less than the company's requirement. ITC chairman, YC Deveshwar, had recently said at the post-annual general meeting press conference the company was looking for a minimum of 40 acre for its agri-cum-food project.

“We are in the process of getting some land from WBIDC. Once we get it, we will go ahead and set up the factory. We were looking for a minimum of 40 acre but have managed to get only about 18 acre so far," Deveshwar had said.

It would, however, mark the end of the company's long wait. In 2009, Deveshwar had expressed discontent over not getting suitable land in West Bengal.

“It is really frustrating. We want to do something in the state, but we are not getting land. We have also deposited money for it,” he had said.