The Odisha cabinet on Thursday allowed Jayshree Chemicals Limited (JCL) to transfer its leasehold rights over 107.41 acres in Ganjam district to Aditya Birla Chemicals (India) Limited (ABCIL).
"The government allowed land transfer subject to realisation of a premium of Rs.34.61 crore payable for half of the lease period. And 1.39 acres of land, which has been illegally sub-leased by JCL to another company, shall be allowed to be transferred in favour of ABCIL on realisation of prevailing benchmark value of the land," Chief Secretary G.C.Pati said.
ABCIL has taken over JCL's plant in the state last year. ABCIL has acquired chlor-alkali division of Jayshree Chemicals Limited on slump sale basis for a cash consideration of Rs.212 crore. Jayshree Chemicals' chlor-alkali division (CAD) has an energy-efficient membrane cell facility located at Ganjam.
The current capacity of the facility is about 57,000 tonnes per annum.