Monday, October 25

German bank, development firm keen to bet on West Bengal

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German Development Bank KfW and GIZ, a service provider in the field of international cooperation for sustainable development, have evinced keen interest to invest in Bengal. State chief secretary Malay De and West Bengal Industrial Development Corporation MD Vandana Yadav met top officials of these two German firms on Thursday.

State finance and industries minister Amit Mitra told TOI from Germany that the Bengal government has discussed investment potential on five projects. Focusing mostly in the sectors of urban mobility, these are on electric ferry, electric buses, electric trolley bus and two projects on waste management, including e-waste. “We do not have electric ferry but it is very popular in Germany. KFW can do part-financing for that,” Mitra added.

Incidentally, September 19 was the last day in Germany for chief minister Mamata Banerjee-lead delegation from the state, before leaving for Milan in Italy.

Mitra, who went to Dusseldorf, the capital of German state of North Rhine-Westphalia, said that a big delegation headed by minister of finance of that state will participate in the next edition of the Bengal Global Business Summit. “We have submitted a proposal for state-to-state cooperation,” he added.

The areas of cooperation will include mining equipment, chemicals and petrochemicals, logistics and engineering. “We have given three handbooks on chemical and petrochemicals, logistics, engineering and manufacturing. They have proposed a handbook on mining for investment in the state,” Mitra said. North Rhine-Westphalia contributes almost 22% of the GDP of Germany.

Mitra also sounded optimistic that there will be good sectoral delegation from this German state. “We may also sign an MOU with North Rhine-Westphalia for long-term cooperation like what we did with a state in Poland,” he added. According to Mitra, top German companies which have a presence in Bengal are very happy working here. These include BASF, Siemens, Phoenix, Metro Cash & Carry and Walker Silicon, among others.

Source: Times of India

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