Exide Industries Ltd today hailed the West Bengal government for ease of doing business and said it was one of the key reasons behind the company's additional investment of Rs 550 crore for expansion in the state.
"Bengal showed the way through the five-year wage agreement, which we have been able to implement in all our plants from the earlier three-year wage agreement," Exide MD and CEO Gautam Chatterjee said at the foundation stone laying ceremony for two projects here.
After Haldia Development Authority Chairman Suvendu Adhikary's intervention, the reluctant trade unions agreed to switch to the five-year wage agreement, he said.
Chatterjee said due to the state government's proactive role, the company promptly got the required land for expansion.
Exide Industries today set in motion efforts to turn its Haldia unit into one of the biggest battery-making centers in South-East Asia, churning out everything from recycled lead to finished products.
Meanwhile, Adhikary, who is also the state's Transport and Environment Minister, said the government has a land bank for companies who want to expand.
"After we came to power, we have been able to revoke the Central Pollution Board embargo in Haldia in 2013. Now, several companies are expanding here like Indian Oil, the Hiranandani Group LNG terminal and Mitsubishi Chemicals," he said.
Meanwhile, Adhikary said the state government will be rolling out electric buses in phases, as part of its sustainability measures.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)