JSW’s unique compensation plan!

36TH Full Time Programme In Planning & Entrepreneu...

Perhaps for the first time ever, after Singur and Nandigram, farmers of Bengal would not mind parting with their land for industrialisation purposes. The Jindal Group is setting a steel plant in Salboni in West Midnapore district of West Bengal and is offering a unique compensation scheme to the land owners. JSW Bengal Steel will acquire around 450 acres of land for setting up the 10 million tonne steel plant in Bengal. As compensation package, Sajjan Jindal, Vice-Chairman, JSW Steel, is giving the families the total value of land in cash and an equal amount as shares. The landowner’s shares would be held in a trust managed by the district magistrate. Also, a member per family will be offered a job and each family would get a monthly income from annuity scheme managed by LIC.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)