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December 12, 2019

Investments pour in at Digha Business Conclave

Investments pour in at Digha Business Conclave

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.

Investments in a nutshell:
• 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.
• 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. The investment will be Rs 2,500 crore (every year) for the next five years.
• 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.
• 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.
• Amazon Internet Service will collaborate with the MSME department for a new project.
• Sanjay Budhia, managing director of Patton Group will be investing for an international standard CBSE school in the state.

MoUs signed at the event

• 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.
• 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.

Laying of foundation stones at Bengal Business Conclave for upcoming projects:

  1. Apparel hub at Metiabruz: It will have 150 manufacturing units, 300 display centres for bigger enterprises and most interestingly 1,000 trading hubs. It will employ 16,000 people directly or indirectly.
  2. Common facility centre for


  • Bell brass metal cluster


  • Steel fabrication cluster at Paschim Medinipur. It will provide advanced cutting, welding facility, electroplating, testing facility and the power coating facility.
  • Shellac cluster at Jhalda, Purulia.

Inauguration of completed projects:

  1. Common production centre for
  • Kantha stitch artisans at Bhedia, Purba Bardhaman. Hundreds of women will be working there.
  • Mrit-Shilpi artisans at Birnagar, Nadia. It will have modern facilities for burning clay, drying machine.
  • Stone carving artisans at Susunia, Bankura . It will generate 7,000 jobs.
  1. Biswa Khudra Bazar at Bolpur: It will have 50 stalls. It will provide employment to at least 2,000 artisans. It will have mela ground, business hub etc.
  2. Regional Micro and Small Enterprises Facilitation Council at Siliguri
  3. MoU signed between Indian Institute of Foreign Trade, Kolkata and Micro, Small and Medium Enterprises Department (MSME) to promote exports