Iisco will be revived, promises Buddhadeb

West Bengal chief minister Buddhadeb Bhattacharjee today said his government was working to revive the ailing Indian Iron and Steel Company (Iisco) and for an all-round development of the state.

"Iisco will be revived. There should not be any doubt about the revival of the company," Bhattacharjee said speaking at the foundation-laying ceremony of a business class hotel here today.

The chief minister said his government was working on an all-round development plan for the state and "it is not Kolkata-centric".

He said the development of the Asansol-Durgapur industrial belt is crucial for the all-round development in the state and that this new hotel, to be developed under the public-private partnership, would help boost the promotion of business in the area.

Bhattacharjee said more and more businessmen were expected to travel to this area and the upcoming hotel,likely to be completed in one and a half years, would help facilitate their stay in this region.

The chief minister's comment on the Burnpur-based Iisco came amidst media reports that plans for revival of the ailing PSU have suffered a setback following the Jharkhand government's decision not to renew the iron ore mines lease to Iisco.

The steel minister, Ram Vilas Paswan, after a meeting with Bhattacharjee here on August 31 had announced that Iisco would be merged with the Steel Authority of India Limited(Sail) for its revival. He had said that the proposal would be placed before the union cabinet for approval.