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West Bengal secured over ₹40,000 crore worth of investment proposals at the end of the first day of its flagship global investors’ summit on Thursday. Chief Minister Mamata Banerjee inaugurated the two-day Bengal Global Business Summit.
While Mukesh Ambani through his investment proposals running into ₹10,000 crore remained the rallying point for the State government, the other major proposals came from Sajjan Jindal’s JSW, ITC, and H-Energy, among others.
Other proposals
FMCG major ITC Ltd’s MD and CEO Sanjiv Puri announced an investment of ₹1,700 crore that will go towards the company’s new FMCG and personal care plant, expansion of capacity at its Dhulagarh unit and ramping up of its decor paper facility at Tribeni.
“The ITC Green Centre and Infotech Park is also in an advanced stage of construction. In addition, we propose to make new investments of ₹1,700 crore in the near future, taking our recent total investments to ₹5,700 crore,” Puri said.
According to State Finance Minister Amit Mitra, Sajjan Jindal’s JSW Group has proposed an investment of ₹7,000 crore ($1 billion) in a pump storage (electricity) facility. The venue of the project is not yet announced.
Jindal is also ramping up (doubling) the capacity of its Salboni cement plant to 4.8 million tonnes a year. Another ₹500 crore worth of investments is being contemplated by the Coca Cola. The details of the project too are awaited, Mitra said.
Port project
The long due ₹3,000-crore Kulpi port project also found a taker. Construction of the riverine port is expected to start with the UAE’s DP World expressing interest in it, the Finance Minister said. “The port will be a major boost for the State’s economy,” he added.
This is the second port the State government has announced in recent times, after Tajpur.
Luxmi Tea’s Rudra Chatterjee also announced a ₹350 crore health-city project in the State.
Coal-bed methane gas
Two major investment proposals that the State has drawn include one from Great Eastern Energy Corporation Ltd (GEECL) and the other being from H-Energy.
YK Modi of GEECL announced an investment of ₹15,000 crore over the next five to six years for his CBM project.
H-Energy, owned by the Hiranandani Group, announced setting up of ₹2,000 crore worth of new gas pipelines for its city gas project. Plans are also afoot to export gas to Bangladesh.
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