Unitech gets 12,500 acre land from West Bengal

MUMBAI: Unitech has reported that the government of West Bengal has given possession of 12,500 acres of land at Nayachar Island on Feb 15 to the developer PCR Chemicals, a joint venture between New Kolkata International Development (51%) and West Bengal Industrial Development Corporation (49%).

New Kolkata International Development is a consortium between Unitech (40%), Salim Group of Indonesia (40%) and Universal Success of Indonesia (20%). It entered into a development agreement with West Bengal Government on July 31, 2006 for development of mega infrastructure in the State of West Bengal.

On Friday, Unitech shares closed up 6.72 per cent at Rs 417.15 on BSE.