BHEL agrees to pay Rs 9.5L/acre for Bhandara plant

Yet another windfall awaits some land owners in the region, which has seen a series of land acquisition for industrialization lately. Public sector undertaking Bharat Heavy Electricals Ltd (BHEL), which plans a Rs 2500 crore plant in Bhandara district, has agreed to pay Rs 9.5 lakh an acre to 218 families holding 450 acres. The area covers three villages Mundipar, Bamni and Khairi. This is more than nine times the peak rates as per government ready reckoner which is drawn on the basis of deals registered in particular area. Even though actual market rates are always more than the ready reckoner, the price offered by BHEL is much higher than market rates. "Rest of the proceedings are over and disbursals of amount would begin soon," said state's industries secretary Apoorva Chandra, who was in the city to attend a follow-up meeting of Advantage Vidarbha investment meet. BHEL is coming up with country's first project to make silicon chips that goes into making photovoltaic cells to harness solar energy. The investment is located in constituency of political heavyweight Praful Patel of NCP. Patel heads the union heavy industries ministry under which BHEL comes. Sources said the minister had prevailed upon the PSU management to bring the unit at Bhandara. more at : http://timesofindia.indiatimes.com/city/nagpur/BHEL-agrees-to-pay-Rs-9-5L/acre-for-Bhandara-plant/articleshow/19409482.cms