The Sahaganj plant of tyre makers Dunlop India Limited will be opened soon, the Ruia Group said after a tripartite meeting Monday.
The meeting, held in the presence of Labour Minister Malay Ghatak, reached an agreement for reopening the factory in West Bengal's Hooghly district where the management had declared suspension of work in October 2011, citing law and order problems.
In a statement, the company management hoped the factory would "open shortly". Production will start in a phased manner.
"Today in a meeting chaired by the minister a tripartite agreement has been reached for reopening the Sahaganj plant for refurbishment followed by commencement of production in a phased manner," the statement said.
The employees would be given a lumpsum amount initially and the rest of their dues cleared in instalments.
