![]() Financial Daily from THE HINDU group of publications Thursday, May 19, 2005 |
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Industry & Economy
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Foreign Direct Investment Bengal hopeful of FDI in Calcutta Leather Complex Our Bureau
Kolkata, May 18 THE West Bengal Government is expecting to attract FDI from Italy and China in the Calcutta Leather Complex. The 1,100-acre complex, which is the largest of its kind in Asia, will be inaugurated on June 21. Presiding over a ceremony to mark the signing of a series of agreements for making the complex operational, the State Commerce and Industry Minister, Mr Nirupam Sen, said that the Government was hopeful of attracting FDI in the leather complex. The ceremony was also attended by Mr Jagmohan Dalmiya, Chairman of the BOT partner M L Dalmiya & Co (MLDC). Mr Sabyasachi Sen, Principal Secretary of the Commerce and Industries Ministry, later told newspersons that a few firms from Italy and China had already expressed an interest in setting up shop in the complex. Elaborating further on the prospects of the complex, Mr Nirupam Sen said that it would start work with 50 units, including 41 relocators. The number will grow to more than 400 units including 100 new units by the end of this year as a large number of units were in various stages of construction now. The State Government was primarily focussing on relocating existing tanneries from the city limits to the integrated complex. It may be mentioned here that the complex was conceived following a Supreme Court order in 1996 to relocate polluting city tanneries.
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