Thursday, September 23

After 2-yr gap, BGBS set to be back in Feb or Mar 2022

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After a gap of two years, Bengal Global Business Summit (BGBS), the international summit to showcase the state’s investment potential, will be held in February or March 2022. This was disclosed by chief minister Mamata Banerjee after inauguration of a polyester and polypropylene packaging unit in Panagarh by Dhunseri Ventures.
The global industry event was supposed to be held in 2021 as it became a biennial affair after 2019 (when BGBS was last held in February) following the CM’s announcement that it would be held once in two years.
Banerjee further said once every month, she would sit with industry captains. “To expedite investment, we have formed a powerful committee, West Bengal Investment Promotion Board. We are publishing a book on industry also,” she added. Incidentally, the CM herself heads the board.

Elaborating a plan for Deocha Pachami, the largest coal block in Asia, Banerjee said it would provide employment to 15,000 people in Burdwan, Birbhum, Purulia and Hooghly. “There will be no power shortage for next 100 years,” she said.

Banerjee added that more investment proposals were coming for Panagarh industrial park.
Incidentally, Dhunseri Group is investing Rs 1,250 crore in the project that involves three lines. Group chairman C K Dhanuka said there are six to seven units in India. “We’ll be the first in eastern region. WBIDC has given 38 acres of land. The first line will come into production in March 2023, second in 2024 or beginning of 2025, and third by March 2026. The first line will produce polyester film and the second and third will produce polypropylene film,” he added.

According to Dhanuka, the first line’s total project cost will be Rs 450 crore, of which Rs 170 crore will be deployed by Dhunseri Ventures, Rs 220 crore (around 26 million euros) will come as a loan debt from a German bank (OLB Bank), and the remaining amount from HDFC Bank. The first line’s total production capacity is expected to be 38,000 tonnes, which will gradually go up to 40,000-45,000 tonnes.

Earlier, commenting on Andal airport and a deep sea port at Tajpur, CM Banerjee said in the next two years, Andal would be an international airport for which the state had set aside a budget of Rs 150 crore. “Tajpur too will be a reality now,” she added.

Source: Times of India

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