A delegation from Russia is scheduled to arrive in Bhubaneswar on 17 September 2009 to hold talks with the Orissa government on the proposed titanium project in Ganjam district.
The Rs 1,150 crore project has run into controversy in the wake of differences between the Indian and Russian promoters of the company, Titanium Products Private Limited (TPPL), which had signed an MoU with the government to establish the unit in 2008.
TPPL, Government of Russia and JSC Technochim Holding have taken strong exception to the controversial manner in which Industrial Infrastructure Development Corporation of Orissa (IDCO) has allotted land for the project.
IDCO had executed a lease deed with Kolkata based Saraf Agencies Pvt Ltd (SAPL), the Indian stakeholder in TPPL, on 2 February 2009, for around 199 acre in Chhattrapur area of Ganjam. The Russians have objected to this on grounds that the land ought to have been given to TPPL instead of SAPL, which in turn has offered to sub-lease the land to TPPL.
Source : ProjectsToday
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