Unitech Ltd has informed BSE that Government of West Bengal has given possession of about 12,500 acres of land at Nayachar Island (near Haldia) on February 15, 2008 to the developer PCR Chemicals Pvt Ltd for development of, inter alia, Chemical SEZ.

PCR Chemicals Pvt Ltd is a joint venture between New Kolkata International Development (NKID) Pvt Ltd (51%) and West Bengal Industrial Development Corporation (49%).

NKID is a consortium between Unitech Ltd (40%), Salim Group of Indonesia (40%) and Universal Success of Indonesia (20%). NKID entered into a development agreement with Government of West Bengal on July 31, 2006 for development of mega infrastructure in the State of West Bengal.