Tuesday, March 28

Investment rush in Howrah

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Bengal finance and industries minister Amit Mitra on Thursday said the Howrah district is estimated to get an investment of Rs 12,000 crore. Mitra announced a list of projects at a seminar for the MSME and textile sectors specifically located in the district with a direct employment potential of over 1 lakh.

The list of projects include a Rs 5,000 crore hosiery park at Jagdishpur covering 120 acres and space for 170 units.

“The state government is offering critical infrastructure such as access road and power supply. Around 15 acres of land is being transferred by WBSIDCL to a special purpose vehicle (SPV) for the project,” Mitra said.

He said Tata company Titan has picked up space at the gems and jewellery park at Ankurhati offering modern infrastructure to artisans and craftsmen as well as a training facility.

The minister also said a hallmarking facility would be set up at the park.

The list of projects also include a logistics park being developed by the Indian arm of Hong Kong-based real estate developer ESR at Uluberia. The logistics park has come out on land that was earlier with Mahabharat Motors.

E-commerce major Flipkart has taken up space at the logistics park. Rival Amazon and auto major Honda are expected to further pick up space at the park. ESR will invest Rs 600 crore and may scale up later.

Mitra also announced the signing of a memorandum of agreement between Biswa Bangla Marketing Corporation and Flipkart, whereby small artisans from the state will have training and a wider market access through the e-commerce platform.

The minister further said that the foundry park in the district being developed by the Foundry Cluster Development Association would attract more units. The project has an investment potential of Rs 2,500 crore.

The state government has received 669 applications for the conversion of land for industrial use and 374 applications have been granted. The area unlocked is to the tune of around 388 acres.

He said bankers have decided to disburse Rs 120 crore credit to 800 units in the district. “The banks have been meeting up the MSME credit disbursal target and I have given banks a target to disburse Rs 90,000 crore to the MSME sector in 2020-21,” Mitra said.


Source: The Telegraph

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