Industry & Economy
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Foreign Direct Investment
ABF plans 3 projects in Bengal
Our Bureau
Kolkata
,
Aug 31
ABF International, a business promotional arm of Henry Ford's great grandson, Mr Alfred Ford, has plans to make massive investments in India promoting and developing tourism, adventure sports, village industries' park and cosmology.
While its $500-million Himalayan Ski Village project near Manali in Hamachal Pradesh is under implementation, ABF is now turning to West Bengal with three independent stand-alone projects covering village industries' park, tourism and cosmological knowledge, to be taken up in phases on about 60 acres at Mayapur in Nadia district of the State, entailing an investment of about Rs 300 crore.
Mr John Sims, Director of ABF International, told reporters here that they were pleased with the support given by the State government for the project. "We expect to begin construction work of one of the projects from January 2006. All three projects will be completed by 2009," he said.
The projects are expected to create 15,000 jobs and bring about 3 million tourists to the region.
He said the entire cost would be sourced from overseas, and three separate special purpose vehicles would be created to undertake each project.
Each project would be set up on an average 20 acres, attracting an investment of about Rs 40 crore in village industries park, about Rs 76 crore in tourism and about Rs 165 crore in `Vedic Planetorium'.
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