JSW Aluminium Ltd anounces helping packages

Visakhapatnam: JSW Aluminium Ltd of the Jindal group, setting up an alumina refinery in Vizianagaram district, is acquiring 867 acres of assigned land for the project and has announced a package for the displaced families, according to a press release issued here.

Mr. R.Ch. Swain, the project head, said in the release that the company would pay compensation of Rs 2,00,500 per acre to the assignee and Rs 75,000 per acre to the State Government for the land on the basis on revenue records as on December 31.

Employment

The company will ensure employment based on qualification to every displaced family and, if the family does not want the job, it will be paid Rs 3 lakh. Wages in accordance with the Minimum Wages Act will be paid to each family till one individual from the family is given a job.

Further, each family will be provided with a house of 480 sq feet with all amenities, and if the family does not want the house, it will be paid one-time compensation of Rs 1.5 lakh.

Other incentives

Each family will be given Rs 5,000 for transport of household goods and the company will pay an additional incentive of Rs 1,500 per month to each family for a year if the house is vacated on time.

A sum of Rs 3,000 will be provided for cattle shed, said the release.

Equity shares

Equity shares to the extent of land cost will be allotted to the displaced free of cost. A trust will be formed to hold the shares for three years and then transfer them to those losing lands.