BREAKING! West Bengal bags 2,750 cr investment on first day of Bengal Business Conclave

This was a business conclave with style, on the seashores of Bay of Bengal. But Bengal Business Conclave also meant hardcore business with the state bagging an investment of 2,750 crore along with the promise of two luxury hotels coming up in Digha. Since Digha doesn’t have a five-star facility, these luxury hotels will surely catapult the coastal town on the world tourism map.

Atul Bhalla, ITC Hotels area manager (east) that ITC plans to invest around 1,700 crore in the state in next few years. This will include a new manufacturing unit for personal care products and a décor paper manufacturing unit at Tribeni. ITC’s milk and milk-based products’ processing and procurement value chain will also be extended. Meanwhile, German development bank KFW has signed a MoU with West Bengal State Electricity Distribution Company to set up a 150 MW solar power plant in Midnapore for Rs 750 crore. Patton is also set to invest Rs 300 crore to set up two units for engineering and plastic products in Uluberia.  

But the exciting news is boosting of local tourism as Ambuja Group plans for a five-star hotel facility in the beach town. Another four-star facility in association with Hyatt will also come up. Bengal Business Conclave also had a handshake from foreign investors. Infraco Asia of Singapore will invest big in housing in Andal. Changi Airport and Bengal Aerotropolis had joined hands in building the Andal airport. 

Another unique announcement came from Titagarh Wagons. Their MD Umesh Chowdhary mentioned starting of a manufacturing unit for aluminium-based Metro coaches that will generate a revenue stream of 2,500 crore and employ 1,000 people.