West Bengal - Economy and Project Developments

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Rs 8,000 crore IISCO upgrade cleared
http://dnaindia.com/report.asp?NewsID=11790&CatID=4

The Union government on Monday sanctioned the Rs 8,000-crore modernisation and upgradation of Indian Iron and Steel Company (Iisco), to be undertaken by Steel Authority of India Limited (SAIL), after the former's merger with SAIL.

Once the merger, for which SAIL shareholders have already given the go-ahead, and modernisation of IISCO is complete, it will add 2 million tonnes of crude steel capacity to SAIL's existing capacity of 13 million tonnes.

Union minister of steel Ram Vilas Paswan said in Parliament on Monday that the government had approved the Rs 8,000 crore investment for Iisco, and that the modernisation will be complete by 2011, co-terminus with SAIL's Corporate Plan 2011.

The biggest gain for SAIL, after the merger of IISCO, will be in terms of raw material linkages that can be established between the two companies. In reality, the biggest attractions for SAIL are Iisco's prime coking coal mines and washeries at Chasnala, Jitpur and Ramnagore. All steel companies have been fighting shortage and high global prices of coking coal. SAIL imports about 8 million tonnes of coking coal a year for its plants.

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West Bengal government plans to draw Rs 1 lakh crore investment
http://news.webindia123.com/news/sho...4338&cat=India

The West Bengal government is chalking out ambition plans to line up an investment of over Rs 1 lakh crore by 2012 for the economic development of the state.
The state government expects Foreign Direct Investment (FDI) to the tune of more than 50 per cent of the total investment, which is expected to cross Rs 100,000 crore. Most of these investments would be in line with the India's 'Look East' policy.

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Bengal is hungry for FDI in food and farms: Buddhadeb
http://www.indianexpress.com/full_st...ntent_id=82915

West Bengal Chief Minister Buddhadeb Bhattacharjee today invited “massive foreign direct investment (FDI)” in food processing and the agriculture sector at a conference attended by top executives of international companies dealing in food and food-processing products.

“We need private capital, both domestic and foreign direct investment. Without FDI, we cannot progress,’’ he said at a three-day Foodworld India 2005: The Next Link in the Global Food Value Chain conference organised by FICCI and the ministry of food processing.

He announced plans for a Rs 1,000-crore investment in a mega food park and pushed for FDI in four crucial areas of agriculture: diversification in agriculture, improving infrastructure, improving marketing networks and technology upgradation. ‘‘We also welcome investments in research and development (R&D) activities... We invite investors to develop a marketing mechanism,’’ he said.

After inviting FDI, he told delegates that West Bengal had crossed 4% growth in agriculture as compared to the the 1.1 per cent national average. He attributed this to the success of land reforms.

Delegates were also given snippets of success stories in West Bengal: from West Bengal exporting roses to Netherlands to Fritolays setting up a potato processing plant and Dabur a pineapple-processing unit. The state is also setting up multi-purpose cold chains at Kolkata and North Bengal airports.

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Ambuja Cement to invest Rs 115 cr in Farakka unit
http://cities.expressindia.com/fulls...?newsid=159379

Ambuja Cement Eastern Ltd (ACEL) will invest Rs 115 crore in its new 1 million tonne cement grinding unit in Farakka. The investment will be a combination of internal accruals and debt.

ACEL, a subsidiary of Ambuja Cement India Ltd, has decided to use Farakka unit’s production for the North Bengal and North East markets, according to Harshavardhan Neotia, the managing director of ACEL.

ACEL, with a cement producing capacity of 1.8 mt, has klinker and grinding plants at Bhatapara in Chhattisgarh and a grinding unit at Sankrail in West Bengal. The company’s second grinding unit will use the fly ash of NTPC thermal plant at Farakka.

[fred_the_cute_guy]

http://www.telegraphindia.com/105120...ry_5553646.asp

Putting months of speculation at rest, Pawan Ruia has finally bagged the ailing tyre maker, Dunlop.

In a deal signed today, Ruia clinched Dunlop, profit-making Falcon Tyres and India Tyre Co, a trading company, beating other contenders like Hero Group, Metro Tyres and Apollo Tyres.

The transaction that marked the exit of Chhabria-owned Jumbo Group from the tyre business in India is valued at Rs 200 crore.

When contacted, a Jumbo Group spokesperson confirmed the development.

“The tyre business of Jumbo Group has been sold to Pawan Ruia in an offshore deal,” the spokesperson said. The companies, which held stakes in Dunlop and Falcon, have now been sold to Ruia, he added.

The exit from the tyre business is in line with Jumbo Group’s policy to concentrate on its core business — electronics.

“We have tried to revive the company for long but without any result. The group was looking at some company which has a long-term interest in the tyre business,” he added.

The key factors that went in favour of Ruia are that he stumped up more cash than others and showed eagerness to buy Dunlop that others were not ready to touch. Moreover, he has the experience of turning around Jessop, which was an ailing public sector unit.

Pawan Ruia could not be reached for comment. Ruia group spokesperson said an announcement would be made only tomorrow.

While the share transfer agreement between the two parties has been sealed, the deal has to be vetted by the Board For Industrial and Financial Reconstruction (BIFR).

For a BIFR company, which Dunlop is, takeover is not completed without the board’s approval. The share transfer may take place, but it needs BIFR blessing. Without it, the deal is not consummated. For instance, the government sold its stake in Jessop to Ruia Cotex, but it came into effect only after the BIFR okayed it.

However, there will be no hurdles to acquiring Falcon Tyres, which is a profit-making company.

If Ruia manages to win the BIFR approval and convince the banks and financial institutions to get along with him, he would face the uphill task of reviving Dunlop. When Dunlop was closed in 1998, it had 5,000 people on the rolls. Now the workforce at Sahagunj in Bengal stands at 2,700.

In an exclusive interview with The Telegraph a week ago, Ruia had said he might not need more than 1,000 workers to run this plant.

“I may need to put in Rs 50 crore to start operations at Sahagunj,” he had said.

His total investment could be much more because Dunlop comes with a huge liability in its books.

The situation at the Ambattur facility in Tamil Nadu is said to be better and operations can start soon.

It is to be seen whether Ruia can persuade the state and the trade unions to agree to his plan to right size the workforce.

He had expressed hope that operations at Sahagunj factory could start within three to four months after the completion of all the formalities. However, this would depend on approvals from all quarters: the unions, the government, banks, financial institutions, the BIFR and the AAIFR.

Lets see how this heritage organization moves forward...

[Anniyan]

West Bengal's bid to make up for late start in IT


New policy initiatives attract the big players to the State

KOLKATA has a huge talent pool. It offers the lowest cost of operation

WEST BENGAL has been a late-starter in the IT sector. It was content to service the sector through its Industry and Commerce department till the Nineties and it was only in 2000 that a separate department was set up to look after this new economy sector.

The perception of a State under long years of Left rule helped little. Images of a poor work-culture, militant trade unionism and resistance to computerisation did not inspire confidence in prospective investors.

But the scenario has been changing rapidly. The dynamism ushered since 1994 (when the new industrial policy was announced), the IT policy and the ITeS policy in 2002, and the fresh air brought in over the last five years of the Buddhadeb Bhattacharjee government have all led the IT companies to queue up for investing in a State that they had avoided till a few years ago.

Many eager investors

About 235 IT companies including major ones — IBM, Wipro, TCS, Cognizant, PwC Skytech, Computer Associates, NIIT — are already here. The built-up space under occupation, by the IT and ITeS industry, is poised to leap to 13.3 million square feet in 30 months from 1.8 million now. More software technology parks are set to be added to the six existing ones. The IT hub at Sector V of Salt Lake in Kolkata is India's first fully integrated electronics complex. Satyam and ITC Infotech have announced their plans to invest in the State while Reliance Infocomm plans to set up a call centre. Also in the queue are ICICIOne Source, Hinduja TMT and Mahindra BT.

The roadshows held by IT minister Manab Mukherjee, himself a science graduate from St Xaviers College, and his team of secretaries have had their impact and investors have astutely weighed the balances in their favour.

The city has a huge talent pool. It offers the lowest cost of operations. It has the lowest attrition rate and good power availability — prerequisites that make a city a preferred industry destination. IT department officials said that in the ITeS sector West Bengal actually has the lowest attrition rate of about 20 per cent against 30-40 per cent in cities like Bangalore, Chennai, Mumbai and Delhi.

Emboldened by these positive parameters, West Bengal (with 2004-05 exports at Rs. 2,200 crore) which now has a mere three per cent share in the country's software exports plans to catapult itself to a position from where it can contribute 15 per cent of India's total IT revenue and 20 per cent of ITeS revenues by 2010. " It's steep", admits State IT secretary Dr Gautama even as he expresses confidence that it is achievable. "We do not market others' weaknesses but only our strengths," he says adding : "The city is poised for an exponential growth in IT space, given its strengths."

http://www.hindu.com/biz/2005/12/05/...0501241800.htm

[fred_the_cute_guy]

http://www.telegraphindia.com/105120...ry_5563799.asp

It’s exciting and the curve is great.

But before you start wondering if it’s some kind of sleazy invitation, it’s not. Just a tip from an insider who knows where to byte.

Kiran Karnik, the man who heads Nasscom, the apex body of software and services companies, says the city is the place to be. “If you’re a businessman, Calcutta is a very exciting place to be right now. The information technology sector here is showing a great growth curve, as compared to the rest of the country.

“With a proactive government which means business, Calcutta is the gateway to the east and the Northeast, which has tremendous, and unfortunately, untapped potential.”

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Kolkata seen as genomics discovery hub
http://www.business-standard.com/com...&autono=207933



Kolkata should evolve from becoming the information technology (IT) enabled services (ITeS) hub to IT enabled discovery (ITeD) hub of the nation with one of the largest pure science talent pool in the country.

Speaking at the sidelines of Infocomm 2005, Samir K Brahmachari, director, Institute of Genomics & Integrative Biology (IGIB) said that West Bengal missed the first reverse engineering or the generic 'bus' when the biotechnology boom was happening in the other states like Maharashtra, Andhra Pradesh and Karnataka but now with the pure science graduates becoming increasingly rare breed in southern states, the state should utilise this talent pool and IT skills to explore and unravel new frontiers in biotechnology.

The global biotechnology industry is worth $ 50 billion while in India the business ranges between $250 million to $ 1 billion. According to a Nasscom survey this sector could grow to 10 per cent of the global biotechnology business by 2010.

The Chatterjee Group has interests in companies and projects like Chembiotech Research Private Limited, Institute of Molecular Medicine, a project with the Indian Statistical Institute (ISI) titled Centre for Population Genomics and Silicogene, another company on Bioinformatics. Brahmachari outlined that IGIB has also received a $1 million grant for an IT enabled system for structure, dynamics, control and design as well as a Genome Application Centre from the Chatterjee Group. The institute is also collaborating with ISI in Kolkata on analysing and developing novel computing tools.

The planing commission on the other hand has given Rs 25 crore for a genotype to phenotype mapping and another Rs 43 crore for a revolutionary indigenous clinical drug trial model. Brahmachari claimed that if successful would no longer make it imperative for Indian companies to take the help of their foreign counterparts to conduct trials. IGIB has 50 branded biodrugs in India though a majority of them are based on reverse engineering.

The sector requiring huge start up investments with unpredictable outcomes, usually face a lot of apprehension from the venture capitalist (VCs) with only $70 million having come from VCs out of which 20 per cent were for start ups according to a Nasscom study.

The lingering doubt over the patent regime though changed recently still lingers coupled with the efficacy of application of legislation and the growing public opinion against genetically modified crops and the likes.

Brahmachari pointed out that there were more bio-IT rather IT products patented and often smaller companies actually go through the whole process of sustained research and application rather than the industry biggies.

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SAIL to invest Rs 11,000cr in Bengal plants
http://www.business-standard.com/bso...O&autono=12587

As part of the Rs 35,000 crore mega growth plan, Steel Authority of India (SAIL) is planning to pump in Rs 11,000 crore to increase production at its three production units in West Bengal including Durgapur Steel Plant (DSP) and Indian Iron and Steel Company (IISCO).

The company has decided to invest Rs 11,000 crore in the next five-six years to jack up hot metal production capacity of DSP from the present level of two million tonne to 3.2 million tonne by 2011-12 and IISCO's capacity to 2.5 million tonne from the existing 0.8 million tonne.

Apart from increasing hot metal production, an investment of Rs 3,000 crore in DSP would also ensure that finished steel production of the plant go up substantially from a meagre 0.7 million tonne to 2.63 million tonne by 2011-12.

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CTS planning investment in city

CTS is planning to acquire 10-15 acres of additional land in the Special Economic Zone (SEZ) area in West Bengal. In Kolkata, in 2005 the company has already recruited 1,000 professionals taking the total strength to 3,200 in the city.


Acclaris to scale up headcount

Acclaris Business Solutions Private Limited (ABSPL), a 100 per cent subsidiary of US based Acclaris Inc., would be enhancing its manpower to 1000 in India within two years, John West, president and chief executive officer, Acclaris Inc. said in Kolkata today.

Speaking on the sidelines of the inaugural function of its fourth service centre in India, and the third in Kolkata, West said the headcount would double within 2006 from current figure of 300. Of these, around 250 were working at the Kolkata centre and the remaining at Vizag. Apart from these four centres, ABSPL was also evaluating the opportunity for setting up service centres at Durgapur and Silliguri. Kalyan Kar, managing director of Acclaris India, informed.

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IT realtor eyes more acres - 400,000 sq ft office space ready by 2007

Ascendas, Asia’s leading provider of business space solutions, has sought more land in Calcutta from the state government, besides the 20-acre plot it is developing in Rajarhat.

Chong Siak Ching, president and CEO of the company, called on the chief minister at Writers’ Buildings on Monday. “We apprised and updated him on the progress of the IT park we are developing,” said Harminder Singh, senior vice-president of Ascendas India.

“We also discussed the possibility of being allotted some more space. We’d be happy if it’s adjacent to the plot we are working on in Rajarhat.”

According to government officials, the company wants to develop the park into a special economic zone. The chief minister asked Ching to table a formal proposal in this regard.

The Singapore-based company’s Rs 400-crore project in Rajarhat’s Action Area II — the single largest such investment in the city — is likely to yield around two million sq ft of office space.

“The project is in the planning stage and we are in talks with local authorities like Hidco for the clearances and approvals. We intend to start work on the first phase by April 2006, which should be completed in 12 months.”

The first phase — likely to generate 400,000 sq ft space — should then take three more months to be ready for companies to move in. “We are tapping both our existing clients and new ones for renting space in the new IT park,” Singh said. The company’s client list includes IT and IT-related companies such as IBM, Intel, AOL and TCS.

“We plan to add around 13.3 million sq ft of IT space to the existing 1.8 million sq ft in the next 30 months,” said state IT secretary G.D. Gautama. “We will do this through 13 IT parks in and around the city, and Ascendas’s is one of them.”

Satyam to come to Kolkata?

http://news.webindia123.com/news/sho...2&cat=Business

Software biggie Satyam Computer Services would set up a software development centre in Kolkata, Mr B Ramalinga Raju, the founder and chairman of the company said. However, Mr Raju declined to give further details about the project.

''We have allocated 2.5 acres of land in Saltlake sector V to Satyam and they would start construction in January,'' West Bengal IT Minister Manab Mukherjee.


New software park with SEZ status coming up in Bantala
http://www.newkerala.com/news.php?ac...lnews&id=62829

A new software park with Special Economic Zone (SEZ) status is coming up in the Bantala area of West Bengal.

''130 acres of land will be alloted to the national and international IT companies which want to set up shop in the state,'' Mr Jagmohan Dalmiya chairman of M L Dalmiya and Co, developing the land, said.

''We have already developed the land and it will be leased out for 99 years,'' the former BCCI president said. ''The rate of the land will be much lower compared to Rajarhat standard,'' he added. ''We have invested Rs 240 crore for developing the land,'' he said.

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Bengal to get prominence on Tata map

Calcutta, Dec. 10: The Tata group will give priority to Bengal as an investment destination. The group, which is present in software, tea and steel sectors in the state, is now looking at setting up an automobile or auto ancillary unit here.

Addressing the consular corps business seminar in Calcutta today, group supremo Ratan Tata said Bengal has emerged as a business-friendly state and the Tatas would look at an auto unit while expanding its steel business in Kharagpur.

The group will also donate a cancer hospital and research centre to the state, he added.

[fred_the_cute_guy]

http://www.telegraphindia.com/105121...ry_5589633.asp

Bengal tap for Reliance gas
- Plan to lay pipeline to Haldia


Huge gas finds by Reliance off the Orissa coast could mean a windfall for Bengal with the Mukesh Ambani company planning to lay a pipeline to Haldia where a chemical hub is being developed.

Reliance and partner Niko Resources of Canada have made six gas discoveries in a row — whose size could be 2 to 3 trillion cubic feet — in an offshore deepwater block named NEC-25.

The consortium plans to ferry the natural gas to markets near Calcutta, 240 km to the northeast from the site of the finds, through an undersea or overland pipeline.

In either case, the pipeline is likely to go through Haldia, southwest of Calcutta, which already has petrochemical and chemical industries.

Reliance, India’s largest petrochemical company, has already told the Bengal government that it plans to invest in the proposed chemical hub at Haldia.

The Centre is setting up two such parks in the country, and Haldia has been chosen because it’s a port town.

Once the gas starts arriving, many energy-intensive industries may consider switching from coal and furnace oil to natural gas because it is cheaper and environment-friendly.

With at least two special economic zones slated to come up in Bengal — one at Kulpi and the other at Haldia — there will be no dearth of demand for Reliance.

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Birla Corporation starts new Bengal cement plant
http://www.business-standard.com/com...&autono=209596

With the commencement of commercial production of its new plant, Durga Hitech Cement, at Durgapur on December 24, Birla Corporation Ltd of the M P Birla group, has become one of the largest cement manufacturers in the eastern region. The combined capacity of its two units was now at 1.6 million ton. The chairman of Birla Corporation, R S Lodha, stated that BCL was proud to be a part of the industrial resurgence of West Bengal. "The state is becoming one of the most favoured investment destinations in India," he said. Durga Hitech Cement with an installed capacity of one million ton, had been equipped with the latest equipment to produce high quality cement on a sustained basis, he said in a media release. "With Durgapur Cement Works installed capacity of 0.6 million ton, the combined capacity of the company's Durgapur facility has become 1.6 million ton, making it the largest single location cement unit in West Bengal," he said.

Plans for ACEL plant in Farakka

Farakka: Bengal CM Buddhadeb Bhattacharjee laid the foundation of a Rs 115 crore cement grinding unit promoted by the Ambuja Cement Eastern Ltd, a joint venture between Gujarat Ambuja Cement Ltd and Holcim, the worlds largest cement company. The one million tonne capacity plant, to be commissioned by September 2006, will source 3.5 lakh tonnes of flyash from the NTPC Farakka plant and provide direct employment to over 2000 people.

Mitsubishi plans Rs 1,665cr PTA plant in Haldia
http://www.business-standard.com/bso...O&autono=12904

MCC PTA India, a subsidiary of Japan's Mitsusibhi Corporation, is planning to set up its second purified terepthalic acid (PTA) plant in Haldia with an investment of Rs 1,665 crore.

Buddhadev Bhattacharjee, chief minister of West Bengal, said today that he has received a letter mentioning that the board of Mitsubishi Corporation has approved the project. Speaking at the AGM of Bengal Chamber of Commerce and Industry here, Bhattacharjee said the second plant would be set up with a capacity of eight lakh tonne per annum. The first plant was set up with an investment of Rs 1,475 crore, and has a capacity of 4.7 lakh tonne. "Mitsubishi chairman would be arriving in February to meet me and hold further discussions in this regard," Bhattacharjee added.

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Mahindra-British Telecom opens development centre in Kolkata
http://www.newkerala.com/news.php?ac...lnews&id=74535

Kolkata: Mahindra-British Telecom, one of the largest software exporters and solutions providers to telecom companies in the world, today announced the opening of its state-of-the-art software development centre in Kolkata. The centre, fifth in India, was inaugurated by West Bengal Information Technology minister Manabendra Mukherjee. Located in Salt Lake Technology Park, the new centre can accommodate approximately 400 software professionals and MBT has invested Rs 10 crore on infrastructure in this centre. Hailing "Kolkata as an important part of MBT'S growth strategy", Mr Vineet Nayyar, CEO and MD, MBT, said in the second phase of expansion, MBT planned to invest in an additional five acre facility that will house 2,000 people with an investment figure going upwards of Rs 75 crore. This is the fifth city where the company has initiated development operations -- the other four being Pune, Mumbai, Bangalore and Chennai.

[fred_the_cute_guy]

Tata Motors is looking at Bengal for production. If I am right, they have two locations now: Jamshedpur and Pune. In that case, this would be the third if it materializes


http://in.rediff.com/money/2005/dec/29tata.htm

Leading automobile manufacturer Tata Motors Limited has shortlisted West Bengal as the possible location for setting up a greenfield truck manufacturing unit.

A Tata Motors spokesman told PTI that the company is looking at various locations for a new unit, adding that West Bengal is one of them.

He, however, said that the idea was at a 'very preliminary and exploratory stage.'

The comment by the Tata Motors spokesman comes in the wake of reports that top officials of the auto major would be coming down to Kolkata to hold discussions with the state authorities in this regard.

The spokesman, however, refused to speak when asked to comment on the reports.

On the other hand, the state industry department officials also expressed their ignorance about reports of Tata Motors officials' plan of holding discussions with the government.

West Bengal Industry Development Corporation managing director Gopal Krishna said, "I am not aware whether officials of Tata Motors are coming for holding discussions."

Special secretary in the industry department Dipak Chakraborty also echoed the same view.

[fred_the_cute_guy]

http://www.telegraphindia.com/106011...ry_5711082.asp

Chandrakona Road, Jan. 11: State industries minister Nirupam Sen announced today that the government would set up a Rs 100-crore biotechnology park at Kharagpur in collaboration with the IIT there.

Sen said the biotechnology park, which would come up on about 100 acres in Kharagpur’s industrial area, will house a state-of-the art laboratory.

“We want to set up the biotechnology park for investors in the drug and cosmetics industry, who will be able to avail of the research facilities there.

“We will expand the industrial area from Kharagpur to Lodhashuli, 20 km away. We also have plans to set up a modern township on 300 acres in Kharagpur,” Sen said while inaugurating a cement factory here in West Midnapore, 170 km from Calcutta.

Officials said the Centre’s department of biotechnology has agreed to provide Rs 38 crore and the state government would pitch in with another Rs 10 crore. The Centre’s research and development wing and the IIT will provide the rest of the funds.

“We have identified the required land and are in the process of buying it,” the minister said. The site is around 130 km from Calcutta.

IIT director Sisir Kumar Dubey said: “We are giving final shape to the project and are in talks with the state government.”

IIT officials said work on the laboratory, which would cost Rs 50 crore, is expected to start after six months.

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'Garment park' coming up in Kolkata
http://www.thehindubusinessline.com/blnus/14211301.htm

KOLKATA: With a view to promoting the growth of garment, hosiery and apparel industry in the State, the West Bengal government is setting up a multi-functional 'Garment Park' at a total cost of Rs 45 crore.

Announcing the state-of-the-art project to be completed by 2007, West Bengal Industrial Development Corporation (WBIDC) Chairman and State Industries Minister Nirupam Sen told newspersons here last night that the State Government had already acquired abo ut 8.5 hectares land at Beliaghata in South-East Kolkata for this purpose and WBIDC and ICICI Winfra had been appointed as Project Consultant.

He said under the project a five-storey Standard Design Factory (SDF), meant for setting up manufacturing units, and a three-storey Common Facilities Building (CFB) would come up as common service and logistic support units for the manufacturers.

Claiming that the location of the park was ideal for the garment industry having good connectivity with airport, Kolkata port, railway stations and national highways, Mr Sen said a scheme had also been drawn up to widen and beautify the approach road to the park and its adjoining canal.

"The park will be built in two phases," Mr Sen said, adding phase-one of the 'dream project' would comprise three SDF buildings, the common facility building, a working women hostel and other auxiliary service buildings.

Altogether, about 70 manufacturing units would be allocated space in the first phase of the project. After phase two was completed the park would accommodate around 100 more units, which was estimated to generate employment for 8,000 workers.

The construction of the project has already commenced and the first phase is likely to be completed by September 2007.

__________________________________

At CII meet, CM sells his dream of a new Bengal
http://www.indianexpress.com/full_st...ntent_id=86208

In his 20-minute interaction with trade representatives and entrepreneurs, the West Bengal CM proved that he is a master dream merchant. Health cities, two airports, four ports (Kulpi included), multi-lane highways connecting Kolkata with the neighbouring districts of Howrah and the two 24 Parganas, rural Bengal prospering with food processing units and export of vegetables outside the state. All these will be a part of Bengal’s new landscape in the next five to ten years, he promised. Although some of the projects are still in the feasibility report stage, the CM assured entrepreneurs that industrialisation would be the primary focus of his government.

With just months to go before the Assembly polls, Team Buddhadeb, including Industry Minister Nirupam Sen, sold the dream of the Left’s industrialisation plan to the CII, the country’s top industry association.

Buddhadeb invited the participation of entrepreneurs based in Singapore and Dubai in developing the state’s infrastructure.

Ruia group in fray to acquire MAMC
http://sify.com/finance/equity/fulls...hp?id=14124601

The Kolkata-based Ruia group is leading the race for acquisition of the closed Central Government PSU Mining and Allied Machinery Corporation (MAMC) at Durgapur in West Bengal. Built with Russian technology, MAMC was originally a part of the Heavy Engineering Corporation (HEC), Ranchi, and was closed a few years ago after the BIFR had issued a winding up order. The company is currently enmeshed in liquidation proceedings.

The State Commerce and Industry Minister, Mr Nirupam Sen, said that a number of industry houses had approached the State and Central Governments during the past few years regarding MAMC. Based on the Ruia group's proposal the State Government had recently discussed the possibility of re-opening the company with the Union Heavy Industries Minister, Santosh Mohan Dev. Sen, however, made it clear that any such acquisition, if comes through, will be a long-drawn affair. "We as a State Government have always been interested in re-opening MAMC and have repeatedly taken it up with the Centre. However, it has now gone to the official liquidator. Also, there are a number of court cases filed by the creditors including State Bank of India. Accordingly, there is no easy way out for reopening the facility."

Earlier, the State Government had tried to take over the sprawling township of the closed company for development purposes. The proposal found favour with the Centre and it was decided that the township would be handed over to the Asansol Durgapur Development Authority (ADDA). In return the State Government agreed to waive mounting dues of MAMC to ADDA and power utility Durgapur Projects Ltd. However, the deal could not be concluded as SBI went to court challenging the decision. State Government sources clarified that the Ruia group's proposal for acquisition would be limited to plant and machinery.

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GBC to make computer hardware in Kolkata
Tuesday January 31 2006 00:00 IST
http://www.newindpress.com/NewsItems...siness&Topic=0

KOLKATA: The Global Concept (GBC), a Kolkata-based company will manufacture computer hardware, for the first time in Eastern region in collaboration with, TXYCO, a Chinese company. Apart from producing hardware, the GBC will start making of desktop and laptops in collaboration with TXYCO, the Chinese company in Kolkata. There are already two companies in West Bengal, which have been manufacturing computers. But they assemble the hardware from foreign countries like China and Korea.

‘‘But, for the first time in this region, we will manufacture computer hardware in West Bengal’’, said Basab Dasgupta, director of GBC. He said that initially they would bring computer hardware from China and assemble them in West Bengal. But from 2008, GBC will start manufacturing hardware in the state.

Sagnik Roy, director and Tang Tianfu, general manager, TXYCO said the joint venture company, will sell 50,000 computers in the first year of production. Initially the company will invest around Rs 50 crore, they said. The GBC will invest Rs 20 crore. The rest will be mopped up from the capital market, through equity and debenture. The company is also planning to apply to West Bengal Industrial Development Corporation (WBIDC) for its equity participation.

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Bengal dreams..
http://cities.expressindia.com/fulls...?newsid=168339

Tata Motors Ltd has finalised its plans to invest in West Bengal. The West Bengal Industrial Development Corp told that the Tatas have already identified close to 3000 acres in Haldia near the proposed mega chemical hub being promoted by the state government. Officials said Tata Motors would assemble its popular heavy and light commercial trucks in Haldia and that the group has no plans to make automotive parts. Tata group head, Ratan Tata had earlier said the group would explore opportunities in assembling of vehicles or manufacturing auto parts in Bengal. On Thursday, addressing executive committee members of Ficci, Chief Minister Buddhadeb Bhattacharjee said Tata Motors has already finalised its plan to set up a unit in Bengal.

Bhattacharjee also said that headway has been made in persuading the Hinduja group to invest in the state. The Chief Minister told reporters it was only a matter of days before Ashok Leyland took a final decision on its intention to set up a new assembling plant. WBIDC officials, however, said no definitive progress has been made although the Ashok Leyland managing director, R Seshasayee, had met state government officials during the CII Partnership Summit last month.

The Chief Minister announced a slew of new projects in the state, including Mukesh Ambani-controlled Reliance Life Science’s keenness to acquire 20,000 acres for a bio-technology project.

Also Mr Anil Ambani will meet the Chief Minister on February 15 to finalise the setting up of an institute of advanced learning.

The Chief Minister said an Indonesian company is planning to set up ‘the country’s largest shopping mall that will sell only imported goods’. The project will come up opposite Science City.