The Telegraph
Friday , February 1 , 2013
Since 1st March, 1999
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Videocon mulls unit in Asansol

Calcutta, Jan. 31: Home grown Videocon Group has expressed renewed interest in setting up a steel plant in Bengal, state industries minister Partha Chatterjee said after meeting Videocon director P.N. Dhoot here today. The company is willing to invest in a steel plant in Asansol.

Chatterjee said Videocon would infuse Rs 250 crore to modernise its unit in Salt Lake. The facility, which manufactures conventional CRT (cathode ray tube) televisions, will be upgraded and have new manufacturing lines to produce high-end LED, OLED and LCD TV sets and mobile phones.

The unit will remain closed for a year to undergo the change but will not be shut down permanently, Dhoot told its 260 workers.

“We had a discussion today. They have said they want a steel plant in Asansol and want us to help locate land. They will give a formal letter expressing their intent,” said Chatterjee after the meeting today.

“They have said they will make fresh investments of Rs 250 crore for modernisation and transfer to new technology in Salt Lake. They will buy new machines and equipment. The worker unions have agreed. There will be no retrenchment for either the permanent or contractual workers. Workers will receive their salary during the period and will also be trained by the company. I have asked them (workers) to come to the unit on a rotational basis,” he said.