The Rs 15,000-crore (Rs 150 billion) steel and power project of the Videocon [Get Quote] Group in West Bengal is on track despite the Singur controversy, company's Chairman Venugopal Dhoot said on Monday.

"Our projects in Bengal are very much on track and there is no hurdle," Dhoot told reporters after meeting West Bengal Chief Minister Buddhadeb Bhattacharjee.

Asked about rumours that the Chief Minister was holding talks with key investors on the Singur controversy, Dhoot said, "The CM calls me every three months to know the progress.

"We are holding direct talks with land owners and farmers and that is much more effective than government acquisition," Dhoot said when asked what he felt about the Tata Motor's Nano car project at Singur facing hurdles owing to the agitations.

The Videocon group was hopeful of land acquisition with its compensation package which includes land price, job assurance and equity in the project.

Asked about progress of projects, Dhoot said the company has acquired 400 acres of some 3500-4,000 acres required for the 3-million tonne steel plant and 1,200 MW power project near Asansol. "We will takeover the entire land requirement by end of this year.

Dhoot said the company has also acquired 200 acres for the 10x2 MW solar power plant at Purulia.