Bevy of investment announcements mark first day of Bengal Business Conclave

Digha (East Midnapore): The first day of the two-day Bengal Business Conclave at Digha started on a decidedly positive note, as it witnessed a number of investment announcements from industrialists in several sectors.

Eugene Gan, world CEO of the Singapore-based Changi Airport, announced an affordable housing project for the economically weaker sections and the lower income group at Andal near Durgapur.

InfraCo Asia will make the investment, with the aim towards improvement in the life of people in and around the Andal Airport.

Kazi Nazrul Islam Airport at Andal has 22 flights operating from it, with direct flights for metro cities like Mumbai, Delhi, Chennai and Hyderabad.

Umesh Chowdhary, managing director of Titagarh Wagons announced setting up of an aluminum-bodied Metro coach factory at Uttarpara in Hooghly, which will be employing 1,000 people.

100 engineers will be going to Italy for training in this regard. The investment will be Rs 2,500 crore (every year) for the next five years.

Chowdhary is also seeking land near Howrah Bridge for a ship-building project that involves production of naval ships and ocean research. Chief Minister Mamata Banerjee suggested that land owned by Shalimar Shipbuilders may be awarded to Titagarh Wagons for their proposed project and state Transport minister Suvendu Adhikari will look into the matter.

Meanwhile, Harshvardhan Neotia, chairman of Ambuja Neotia Group, announced setting up of a five-star hotel in Digha, with 100 rooms and facilities of banquet hall, swimming pool, spa etc. "It will be named Sagar Kutir and will have 60 rooms to start with," he added.

Neotia pointed out that Digha has seen a radical transformation from what it was ten years ago. The setting up of another four-star hotel in association with the Hyatt Hotel Group was also announced at the event.

The ITC group, that already has an investment of Rs 4,000 crore in the state, will invest another Rs 1,700 crore for a personal care manufacturing facility, while Amazon Internet Service will collaborate with the MSME department for a new project.

Meanwhile, Sanjay Budhia, managing director of Patton Group will be investing for an international standard CBSE school in the state.

Apart from the investment announcements, there were a handful of MoUs signed at the event as well, that include one between West Bengal State Electricity Distribution Company Ltd and KFW Development Bank of Germany for setting up a 150 megawatt solar power plant, with an investment of Rs 750 crore.

On the other hand, a Dutch consortium signed an MoU with Calcutta Leather Complex Tanners' Association, on conversion of solid waste to value added products at Bantala Leather Complex.