The Hindu Business Line : Indonesian groups to develop new Kolkata international city

Mr Buddhadeb Bhattacharjee, West Bengal Chief Minister, along with Mr. I R Ciputra (right), Head of Ciputra Goup, going through the model plan of Kolkata West International City, in Kolkata on Tuesday. — Parth Sanyal

Kolkata , Nov. 9

IN a significant breakthrough in the sphere of real estate development in West Bengal by a foreign joint venture company, the Salim and Ciputra Groups of Indonesia, formally announced here on Tuesday their plans to develop nearly 400 acres of land in the western side of river Hooghly, entailing an investment of around $ 330 million.

The construction work of the project, to be named as `Kolkata West International City' will begin from January and the entire job will be completed in phases, within a period of 10 years. This totally integrated township will have about 6,800 homes catering to the lower, middle and upper income groups.

About 40 per cent of the land area will be for road and public usage space, while 7.5 per cent of the total homes will be reserved for the economically weaker sections of society. On behalf of the Ciputra Group, Mr. I.R.Ciputra said a joint venture company, under the name and style of Beyond Limit International (BIL) was already floated in India by the promoting groups to undertake the township project.

Mr. Ciputra said that West Bengal had potential to emerge as a highly developed State because of its inherent strengths and English-knowing skilled manpower. Incidentally, the combined turnover of these two groups would be around US$ 20 billion.

He said that some giant Indonesian business houses had plans to make fresh investments in West Bengal. Among the projects expected to fructify in near future are a "coal mixing plant" and two-wheeler manufacturing project. This apart, his group has also proposed to set up an international standard golf club in the Sundarbans area.

In reply to questions, Mr. Ciputra said that investment in the coal mixing plant would be over Rs 500 crore. High-grade Indonesian coal would be used to blend Indian coal and the blended product would be supplied to power plants throughout the country. On the two-wheeler project, he said that a consortium of Indonesian companies jointly with a Chinese company would set up the project. Details of the two-wheeler project are yet to be finalized.

The Chief Minister, Mr. Buddhadev Bhattacharjee, praised the Indonesian companies for the manner in which they are planning to shape up the township project, an MoU for which was signed in July this year. He said that this was the first integrated township project in the country, more specifically in West Bengal, which would be developed with 100 per cent FDI. The identified land measuring about 400 acres, now under possession of the state government, would be sold to BIL on a perpetual lease agreement.

It was pointed out that the township will have a quite, comfortable and green environment for its dwellers. Moreover, there will be a good connectivity through a public transportation system.

The time spent to get to Kolkata West International City from the heart of Kolkata city will be between 15 and 20 minutes.

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