Govt, WB sign MoU for chemical hub

The Union Government has signed a Memorandum of Understanding (MoU) with the West Bengal Government for developing a chemical hub at Nayachara island. The Centre will invest Rs 2,508, crore to develop the infrastructure for the hub. This allocation will be part of the 11th Five-Year Plan. On the state's part, private developer New Kolkata International Development (NKID), a joint venture between the Salim Group of Indonesia, realty firm Unitech and Universal Success promoted by NRI Prasoon Mukherjee, will build infrastructure on the island. Contact: Government of West Bengal Website: www.wbgov.in