Business Daily from THE HINDU group of publications
Thursday, Jun 22, 2006
Business Daily from THE HINDU group of publications Thursday, Jun 22, 2006 |
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Corporate
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Outlook RIL plans Rs 4,000 cr investment in Bengal Our Bureau
THE WEST BENGAL Chief Minister, Mr Buddhadeb Bhattacharjee, and the Reliance Industries Chairman, Mr Mukesh Ambani, in Kolkata on Wednesday. — A. Roy Chowdhury
Kolkata , June 21 Reliance Industries Ltd on Wednesday unveiled plans to invest Rs 4,000 crore in West Bengal. While Rs 1,500-2,000 crore would be invested in agro-retail initiatives, a similar amount would be invested in a natural gas pipeline to be laid from the coasts of Andhra Pradesh and Orissa to the industrial township of Haldia in West Bengal. Reliance Industries Ltd Chairman Mr Mukesh Ambani met the West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, here on Wednesday and discussed the projects in detail.
Impact on rural Bengal
Later, Mr Ambani told reporters that Reliance's retail plans were aimed at "transforming the agro retail sector in West Bengal". The project, which will be rolled out in all the districts of West Bengal, was also aimed at linking farmers to consumers and facilitating the transformation of the agro-industry in India to agro-processing.
Land requirement
"We are committed to transforming the lives of the rural folk of West Bengal," he said. The entire project would be implemented within the next three years. He said that a decision was pending on the total land required for the project across the State.
Gas pipeline
According to Mr Ambani, an additional Rs 1,500-2,000 crore would be invested in a gas pipeline project to bring natural gas from the Krishna-Godavari basin in Andhra Pradesh and the Mahanadi basin in Orissa to Haldia in West Bengal. The natural gas would then be used to meet the energy requirements of industries in West Bengal. Speaking to reporters, the Chief Minister welcomed the investment proposals of Reliance Industries and said that the agro retail project would benefit farmers and consumers in West Bengal. "The natural gas project is also very important for our State," he said. Later, Mr Ambani called on West Bengal's Minister for Industries, Mr Nirupam Sen, Tourism Minister, Mr Manab Mukherjee, and Transport Minister, Mr Subhas Chakraborty.
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