January 9, 2016
Huge investments announced at BGBS 2016
A lot of investments were announced by top industrialists at the Bengal Global Business Summit 2016.
Here is a list of some of the big investment decisions announced.
However, this is just a partial list. There will be thousands of crores more worth of industrial investments, many of which are on the way to being finalised.
Sector-wise investment break-ups:
- Manufacturing and infrastructure development – Rs 1,16,958 crore (TCG – Rs 20,000 crore, Zhongtong Bus – Rs 1500 crore, Sree Cement – Rs 500 crore, Ambuja Cement – Rs 350 crore, Great Eastern – Rs 1700 crore, and others)
- Power – Rs 8462 crore
- Animal Research Development – Rs 45 crore
- Fisheries – Rs 115 crore
- Transport – Rs 9384 crore (logistics park in Baidyabati – Rs 5000 crore, Howrah freight terminal – Rs 2000 crore, and others)
- Tourism – Rs 450 crore
- Food Processing – Rs 230 crore
- Urban Development – Rs 29,000 crore (Ambuja Township near Baruipur and 16 other townships)
- Higher Education – Rs 2150 crore (Amity University – Rs 2000 crore, and others) IT and Telecom– Rs 8650 crore (Airtel – Rs 3500 crore, ITC Infotech – Rs 1650 crore, and others)
- MSME – Rs 50,000 crore
- Healthcare – Rs 1360 crore
- Technical Education – Rs 2500 crore
- Textile – Rs 50,000 crore
- Transport – Rs 9384 crore
Other investments
- Deep sea port at Sagar Island (Bhor Sagar) – Rs 40,000 crore
- SAIL – Rs 40,000 cr expansion project
- Druk Air will soon start flights from Bhutan linking Andal and Durgapur
- Zhongtong Bus & Holding Company of China signed its first anchor investment deal with WBIDC, where each would have an 11% stake; it will start manufacturing buses in Bengal.
- MoU between Calcutta Goods Transport Association and the State Transport Department for a Rs 5000 crore project in Baidyabati, which would employ 10,000 people. It would be the biggest metropolitan logistics hub in greater Kolkata
- MoU between WBMDTC and KIOCL for exploration, extraction and benefication of iron ore in West Bengal to invest Rs 850 crore
- Bosch will crowdfund technology to decongest traffic
- MoU between business consulting firm, Dynamics Fortunes of the UK and the State Agriculture Ministry to promote rice from West Bengal. It would benefit one lakh farmers
- The Department of Technical Education signed six agreements – with Iron and Steel Council, Tata Steel, Maruti Suzuki, Leather Sector Skill Council and Tourism & Hospitality Skill Council – to benefit two lakh people
- Hotels at the eco-tourism of Gajaldoba: Three-star resort by Sterling Holiday and two budget hotels by Summit Group and Seal Group
- Shapoorji Pallonji & Co. Ltd. will make 2000 dwelling units for the weaker sections of society in Durgapur, their largest such project. Three thousand more such units would be constructed in the future
- Mahindra & Mahindra will invest for the first time in West Bengal, in Vidyasagar area of Kharagpur
- Joint venture between HP and WBHIDCO to set up two telemedicine hubs via remote consulting. This would be a part of HP’s CSR activities
- MoU between the National Institute of Electronics and Information Technology (Government of India) and WEBEL in order to train two lakh youth in six centres over a period of three years
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