Kolkata-based Saraf Agencies has got a major breakthrough on starting work on its Rs 1200-crore titanium Special Economic Zone (SEZ) project proposed at Chhatrapur in south Odisha.

 

After the state law department clarified that were no legal hurdles for the company to commence work, the chief minister's office has given the green signal to the project proponent.

 

"Land to Saraf Agencies was allotted even before the company entered into a joint venture with two Russian firms. So, there is no hurdle for the company to start work on the project on its own. Now, the chief minister's office has also okayed the commencement of work by the company”, said an industries department official.

 

Apart from developing the titanium dioxide plant, Saraf Agencies had also unveiled Rs 5000-crore investment plan that includes a newtitanium park besides the proposed titanium project.

 

Saraf Agencies was in possession of 260 acres of land at the project site. It had sought additional 250 acres of land for the titanium park.

 

Recently, Saraf Agencies had decided to pay additional compensation of Rs 40,000 per acre to land losers owing to delay in commencement of construction work.

 

The company believed payment of extra compensation would help expedite construction work.