The land lease deeds were inked between West Bengal Industrial Development Corporation (WBIDC), a premier agency of the state's Commerce and Industries Department, and the firms, including Prasoon Mukherjee-led Mahabharat Motors and Matix Group's flagship company Matix Fertilizers and Chemicals.
Matix Fertilizers and Chemicals would set up an INR50 billion mega project at the Panagarh industrial park in Burdwan district.
"After 16 long years, this will be the first time Bengal will have a urea-making facility. I have had discussions with officials of the company, and they have assured me the project will be completed by March 2013," state Industry Minister and WBIDC chairman Partha Chatterjee said.
"The facility can create 500 direct and 200 indirect jobs," Chatterjee claimed.