Kolkata, March 12 (IANS) The workers of the Jessop and Co will get an immediate wage hike as the management and workers' union have signed a long-term wage settlement agreement.

The agreement was signed Thursday, a statement said here Friday.

'The agreement with three-year validity commences from March 1, 2010. Apart from the basic wages, Jessop workers are entitled to dearness allowance, house rent allowance, night shift allowance, site duty allowance, leave travel allowance, the agreement provides for nearly 10 percent increase in the gross amount,' it said.

Ruia Group acquired sick heavy engineering and infrastructure company, Jessop and Co, in 2003 and turned it into a profit-making business.