The Hindu Business Line : Mega growth centre near Shantiniketan coming up

Project details
Build on PPP model; Global investors being tapped
Development cost put at around Rs 600-700 crore
Townland Consultants (International) Ltd of Hong Kong is the master planner

Kolkata March 28 This may be the perfect setting to re-discover the "Jeu d'espirit'' among potential investors in West Bengal, now sufficiently rattled by the series of unexpected events in Nandigram; a mega Growth Centre project based on the PPP (public private partnership) model, where land has been sealed and delivered for the potential investors to grab the opportunity of being present at a site where nothing but peace prevails - some 5 km from Shantiniketan which houses Vishwa Bharati University.

The project, expected to cost roughly around Rs 600-700 crore for development, is being executed by Shantiniketan Infrastructure Pvt Ltd (SIPL), a joint venture special purpose vehicle 26 per cent owned by West Bengal Industrial Infrastructure Development Corporation (WBIIDC) and 74 per cent by four private entrepreneurs — Indian Overseas Exports Pvt Ltd, Kontinental Steel & Power Ltd, Laser Cables Pvt Ltd and Pragati Growth & Development Ltd — all 18.5 per cent each.

The master planners of the Bolpur project coming up in an area of 198 acres is Townland Consultants (International) Ltd of Hong Kong, which has over 3,000 such projects under its belt in the Asia-Pacific region.

The land parcel is owned by WBIIDC, and development rights of this area have been transferred to the SPV company by way of a development agreement with lease rights of 99 years.

Project features

Talking to Business Line on the project, for which preliminary site work has begun, Mr Ashoke Dasgupta, CEO of SIPL, said the project was being positioned as a composite "Centre of Learning & Implementation, Health & Lifestyle".

It is particularly aimed at the Indian diaspora around the world, who may be inspired by Tagore's abode of peace at Shantiniketan, which incidentally is also the birthplace of Dr Amartya Sen.

Two of the unique features of the project are some 300-400 "Senior Citizen Service Apartment" and a large "IT Park", which will need an anchor investor to attract major software talent from different parts of the country.

A Ginger hotel is expected to come up at the Growth Centre besides a mini golf course, a health resort, Food Park and a sports complex, with stress on water and energy conservation.

According to Mr Dasgupta, the Growth Centre has been conceived as a self-sustaining project on a long-term basis, and is being developed to promote industry (only non-polluting units), social infrastructure and other facilities in this region of Birbhum and adjoining districts.

An infrastructure loan is now being negotiated with Hudco, it is learnt.

Gung-ho on investments

Asked why he was upbeat about investments flowing in, Mr Dasgupta felt that buying into the Bolpur Growth Centre, at least for the Bengali diaspora, could be no less adventurous than it was for `lice' who went down the rabbit hole to discover a whole new world.

He said the planned facilities are being designed in such a way that it would feel like a modern sprawling agglomeration set in a magnificent green environment. Pointing out that zero date was fast approaching, as applications for all approvals including from the Pollution Control Board have been made, he said the project should be completed within 36 months from zero date.

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