The first Bengal Business Conclave got off to a flying start on Wednesday in Digha, with the state bagging investment proposals to the tune of at least Rs 2,750 crore, apart from the promise of two luxury hotels that could catapult the seaside town into the big league.
ITC Hotels area manager (east) Atul Bhalla said the FMCG-to-hospitality-to-tobacco giant will invest over Rs 1,700 crore in the state in the next few years. This will include a new facility for manufacturing personal care products and a décor paper-manufacturing unit at Tribeni that will allow import substitution. They’ve also planned to expand their manufacturing facilities and milk and milk-based products’ processing and procurement value chain.
The company, which has already invested Rs 4,000 crore in the state in the last three-four years, has taken 31 acres at the Uluberia Industrial park to develop the personal care products facility.
German development bank KFW has inked an MoU with the West Bengal State Electricity Distribution Co (WBSEDCL) to set up a 150MW solar power plant in Midnapore for Rs 750 crore. Finance and industries minister Amit Mitra said Patton will invest Rs 300 crore to set up two units for engineering and plastic products in Uluberia.
There was also exciting news on the local tourism front: the Ambuja Group is planning a five-star hotel in Digha, a first for the tourist town. “The name of the hotel will be Sagar Kutir. There will be 100 rooms and other facilities like a banquet, swimming pool and modern gym,” said group chairman Harsh Neotia. Apart from this, there is a four-star hotel planned in the seaside town, to be set up in association with Hyatt.
The CEO of Changi airport, Eugene Gan, who was present at the conclave, announced that Infraco Asia, an infrastructure development firm will build affordable housing and homes for the economically weaker sections at Andal near Durgapur. Changi Airport of Singapore is a partner of Bengal Aerotropolis, which has set up the Andal airport. “Infraco Asia will use latest technology for this,” he said.
Umesh Chowdhary, the vice-chairman and MD of Titagarh Wagons, said it will start manufacturing aluminium-based Metro coaches in its facility in Bengal, which is also unique in India. “We are expecting a revenue stream of Rs 2,500 crore for the next five years. It will employ 1,000 people,” he said. The Calcutta Leather Complex has signed an MoU with the Netherlands for solid waste management.
Source: Times of India