Fosroc India, the arm of an international major in construction solution industry, has set up a new manufacturing plant at Uluberia in West Bengal overcoming the land acquisition hurdle.
Fosroc India V P R Saikrishnan said today that the Uluberia plant was their fourth in India, for which they had not gone for direct acquisition of land, but a tie-up with a private land-owner.
"There is no equity participation from the private land-owner. We have taken a lease," he said.
Land acquisition had been a contentious issue for industry in West Bengal and for that matter the rest of the country.
The chairman of the group, James Hay, said that the company had decided to take similar approach for land globally.
Fosroc will manufacture chemicals targeting sectors like cement and construction and later will produce power chemicals in the next year.
"Total investment will be around USD 2-2.5 million," Saikrishnan said.
The company has another manufacturing base in Gujarat, Uttarakhand and Bangalore in India.
The company had a turnover of Rs 320 crore in 2013 and was aiming at Rs 400 crore in the current calender year.
Saikrishnan said Fosroc's unit in West Bengal would cater to the eastern and Northeastern markets, as also Bangladesh and Bhutan.
