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Old February 14th, 2020, 04:52 PM   #4721
DebjyotiSamKolkata
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https://www.financialexpress.com/eco.../1862987/lite/

The West Bengal government on Monday announced setting up of 100 new MSME parks across the state in the next three years to generate employment as the Mamata Banerjee regime presented its last full Budget ahead of the 2021 assembly elections.

In his Budget speech, state Finance Minister Amit Mitra announced free electricity for consumers with quarterly consumption up to 75 units and also a scheme to build houses for all permanent tea garden workers. The state government also proposed agricultural income tax waiver for tea gardens for the next two fiscals.

The state allocated Rs 200 crore for the next financial year for the MSME (Ministry of Micro, Small and Medium Enterprises) parks and Rs 500 crore for the housing scheme for tea garden workers, named ‘Chai Sundari’. Mitra said the scheme will benefit around three lakh workers in 370 tea gardens in the state.
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Old February 16th, 2020, 06:17 AM   #4722
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https://www.businessinsider.in/busin...w/74140164.cms

Kolkata, Feb 14 () Global private equity firms are looking for opportunities in office and retail space in the real estate sector in West Bengal after a successful stint in the logistics segment, a property consultant said on Friday.
"Global private equity firms are seriously planning toput their money in office and retail (in real estate) segment in West Bengal," CBRE India managing director Nikhil Bhatia told .

Blackstone, Brookfield, KKR, GIC, ESR, Warburg Pincus Avendus Capital, Goldman Sachs and Xander Group are among companies which are "evaluating right opportunities" in the state, another official of the property consulting firm said.

"In West Bengal, warehouse absorption stood at 3.3 million sqft in 2019, marginally lower than 3.4 million sqft,absorbed in the previous year," the official said.

In 2019, office leasing in Kolkata has recorded a sharp growth totalling 1.3 million sqft of commercial space,he said.

Leasing activities in the last calendar year were driven by IT majors and banks that had taken up new office space in the city's satellite townships, the official said.

Bhatia said similar trend will continue in the current year with fresh interests from the global private equity firms.

PE firms' interests in the residential sector are also set to grow in the coming years, he added.
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Old February 17th, 2020, 07:06 AM   #4723
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http://www.millenniumpost.in/kolkata...derbans-401017

Kolkata: The state Self Help Group (SHG) and Self Employment department is taking all necessary steps to ensure that there are 15,000 Self Help Groups exclusively in Sunderbans area. Sadhan Pande, the state Self Help Group and Self Employment minister, said at present there are 2,700 Self Help Groups in Sunderbans. "I held a meeting and directed the concerned officials to ensure that the number of SHGs should go up to 15,000 by the end of 2020," said the minister adding that there are lots of scopes and it will ensure better economy in the area.
There are at least 10 women in one SHG and an equal number of families will get benefitted with setting up of the SHGs. Pande also inaugurated a Sabala Mela in Sunderban's Antorik that was attended by thousands of people. SHGs now undertake jobs starting from stitching uniforms for school-goers to supply food in state-run hospitals. So, setting up of more number of SHGs will ensure further development in the rural economy. At present, there are 9.5 lakh SHGs in the state. "Our target is to take it to 1.5 crore and accordingly directions have been given to our officials," he said, adding that SHGs get a loan just against a minimum interest of 2 percent.
There are 94,000 SHGs in East Midnapore district which is the highest numbers among all the districts in the state.

It may be mentioned that Chief Minister Mamata Banerjee has initiated 'Jaago' project under which each SHG is getting Rs 5,000 and helping them to take up new projects. Pande will be heading a meeting of the officials of his department on Monday at the Administrative Training Institute (ATI). He will be giving necessary directions to the SHG officials, who directly work in coordination with BDOs in villages, on how to increase the number of SHGs. They will also be provided with the necessary training. On Tuesday, the minister will be holding another meeting at Biswa Bangla Convention Centre where there will be discussions on Muktidhara project. The discussions will be held mainly on the issues that will help in ensuring better marketing of the goods prepared by the SHGs. There are around 20,000 villages in 13 districts where the project is being run.
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Old February 18th, 2020, 11:53 AM   #4724
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https://yourstory.com/smbstory/elect...rare-earth-iot

The story of Rashmi Rare Earth Ltd (RREL) shows that innovation and entrepreneurship go hand in hand. One can build multi-crore businesses and conglomerates, but unless you don’t strive to reinvent and innovate, the probability of achieving something big seems rare. RREL, an electronics manufacturing services (EMS) company, is a subsidiary of Kolkata-based business conglomerate Rashmi Group. Started a year ago to manufacture the latest 5G electronic products, it has managed to accomplish a lot in just one year. The biggest milestone: bagging a contract from Reliance Jio to manufacture set-top boxes.

RREL’s manufacturing unit in Noida is the hub of all activities. Today, it claims to be competing with international electronics manufacturing giants such as Foxconn, Dixon, and Flextronics. Sunil Patwari (43), CEO of RREL, is an obsessive believer in innovation. From steel and dredging, he has helped the company expand in other sectors like EMS and IoT.

Our upcoming project is to set up a specialised tool room for high-precision, plastic-injection moulding parts and a state-of-the-art painting solution, which can offer a wide range of products. The technology transfer agreement for setting up the moulding factory was signed in September 2019.
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Old February 19th, 2020, 06:14 AM   #4725
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DOUBLE DELIGHT FOR GRSE !!

Quote:
Navy gets 4th anti-sub warfare corvette
Kolkata: The first three Anti-Submarine Warfare (ASW) Corvettes delivered to the Navy by Garden Reach Shipbuilders and Engineers (GRSE) have already been very effective in detecting unfriendly submarines snooping near Indian waters, the company’s chairman and managing director Rear Admiral (retd) V K Saxena said on Tuesday. During the day, GRSE handed over the INS Kavaratti, the fourth and last ship in this series, to the Navy. This is the 104th warship built by the shipyard in Kolkata.

“This project involving four ASW Corvettes was a national one. Real indigenisation started with these vessels. The level of indigenisation achieved for all four vessels was nearly 90%. Indigenous steel (DMR 249A) was also used for naval shipbuilding in this project. These are not small platforms. They have a displacement of 3,250 tonnes each. We have now achieved self-reliance. Apart from the steel, the propulsion systems, weapons platforms and sensors are all indigenous. The sensors include sonars that are so essential for tracking submarines,” Rear Admiral Saxena said.

The INS Kavaratti is the most advanced among the four vessels. According to the CMD, the indigenisation content for the last two vessels — the INS Kavaratti and INS Kiltan — is about 87%. This is primarily due to the carbon-composite superstructure of these two ships. GRSE tied up with a Swedish firm to develop the superstructures and integrate them to the steel hulls. This was also a first for any warship in the country. Reduced weight resulted in more stability and speed.

In the last 32 months, we delivered 12 warships. We have been told by the Navy that the ASW Corvettes are doing a wonderful job in detecting unfriendly submarines. We plan to complete two Fast Patrol Vessels for the Coast Guard by March and a Landing Craft Utility for the Navy by April. We are also working on Stealth Frigates, Survey Vessels (Large) and Shallow Water ASW Crafts for the Navy. We are investing Rs 200 crore in Rajabagan Dockyard and in the next couple of years, GRSE will be building 24 ships concurrently,” Rear Admiral Saxena said.
https://timesofindia.indiatimes.com/...w/74200017.cms

Quote:
Kolkata shipyard may supply unmanned vessels to Navy
Kolkata: Garden Reach Shipbuilders and Engineers (GRSE) of Kolkata that has earned the distinction of being the country’s only shipyard to build more than a 100 warships, is set to launch a futuristic system that will take maritime security to a new level. It is waiting for the Navy to issue a Request For Proposal (RFP) for Unmanned Surface Vessels (USVs) for which GRSE has already signed a Memorandum of Understanding (MoU) with an Israeli firm.
“It will be a game-changer. Not only the Navy, the Army may also place orders for riverine areas. The Coast Guard may also want some. Just as Unmanned Aerial Vehicles (UAVs), the USVs are extremely versatile and useful. These small vessels can operate for four days at a stretch away from the mother ship. They can be remotely controlled and only require a change in module for shift in operations. From effective mine-control measures, they can shift to anti-submarine warfare and other activities,” GRSE chairman and managing director Rear Admiral (retd) V K Saxena said.

The Israeli firm already builds USVs. If GRSE were to start building them, they would have at least 60% indigenous content, the MoU states. Another signatory in the document is Bharat Electronics Ltd (BEL) that has already started work on advanced sensors for these small vessels. GRSE has also held discussions with Defence Research and Development Organisation (DRDO) and its Naval Science & Technological Laboratory (NSTL) to work out possible designs...
https://timesofindia.indiatimes.com/...w/74200013.cms
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Old February 19th, 2020, 07:21 AM   #4726
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https://www.thehindubusinessline.com...le30849480.ece

Lakhani Infinity Footcare, which owns and markets footwear under the ‘Lakhani’ brand, plans to expand into West Bengal and later into the Southern states. The company will initially target Tier-II markets.

Lakhani is a 55-year-old homegrown brand, but its presence has mostly been in the Hindi heartland, in Rajasthan, Haryana, Jammu & Kashmir, Uttar Pradesh and Madhya Pradesh. In the west, it has a presence in Maharashtra and in the South, it has “some presence” in Hyderabad.

According to Mayank Lakhani, Director, Lakhani Infinity Footcare, the expansion plans have been put in motion after the rollout of GST. The new tax regime has brought in a single tax structure pan-India, helping it frame expansion plans. Moreover, unorganised players are now either exiting the market or are unable to compete with organised ones.

Expansion will see the company set up super distributors (called ‘depots’, in their parlance) who, in turn, will sell to retailers.

“As of now we will expand into West Bengal in FY21, specifically targeting Tier-II markets. Depots will also come up in West Bengal to reach out to other parts of the East; whereas another will come up in Hyderabad, where we have some presence; thereby enabling us to access the South Indian markets better,” he told BusinessLine.

“GST brought in a single tax regime, thereby enabling us to focus on pan-India expansion plans. Otherwise, different tax structures across States under the older VAT regime made things difficult for smaller organised players,” Mayank Lakhani added.

Turnover targets
Lakhani Infinity Footcare reported a turnover of ₹105 crore in FY19 and is EBITDA positive. It is planning to close the current fiscal year at around ₹160-165 crore in FY20 and ₹220 crore for FY21.

The target, Mayank Lakhani says, is to achieve a ₹400 crore turnover, over the next 4-6 years.

According to him, the brand has a strong presence in Tier-II markets, with average prices varying between ₹499 and ₹1,499. Nearly, 70-80 per cent of its turnover is from men’s footwear. The focus will continue to be on these markets initially. “We may explore Tier-I and metro markets after we achieve our ₹400 crore turnover target,” he added.

Lakhani currently has a manufacturing facility at Sahibabad in Uttar Pradesh, with capacity to produce 30,000 slippers in a day. This apart, it has tie-ups for third-party manufacturing.
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Old February 19th, 2020, 07:22 AM   #4727
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https://www.theweek.in/wire-updates/...epreneurs.html

Kolkata, Feb 18 (PTI) A Gujarat-based organisation has
claimed that it helped "create" over 2,800 entrepreneurs in
West Bengal in the last five years, of which 1,270 were
females.

The institute "boosted rural livelihood and
employment" under the Start-up Village Entrepreneurship
Programme (SVEP), a sub-scheme of the Centre's National Rural
Livelihood Mission (NRLM).

"We have created over 2,800 entrepreneurs in six
blocks of West Bengal in the last five years. Of them, 1,270
are female, 1,569 are male and one is transgender," the
Entrepreneurship Development Institute of India (EDII) said in
a release.
The institute also claimed that in the last five
years, it has promoted "over 27,400 entrepreneurs in 42 blocks
across 11 states".
"Micro-enterprises constitute a significant proportion
of the existing unregistered enterprises in the country. The
purpose of SVEP is to bring a majority of these micro-
enterprises in the main stream and assist them in funding
their business model, which can generate rural employment,"
EDII Director Sunil Shukla said.
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Old February 20th, 2020, 10:41 AM   #4728
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https://www.livemint.com/companies/s...133068882.html

—Srikanth Iyer, co-founder and CEO, HomeLane

After successfully delivering home interiors in business hubs such as Mumbai, Hyderabad, Bengaluru and Delhi-NCR, in 2018, we decided to take HomeLane’s footprint to Kolkata. In terms of business, it was a natural progression, and our initial market research was promising as well. However, there was some apprehension about how an organized player like us will be received in this market. The results have cleared all our doubts and have given us the confidence to sail the ship forward, and fast! We started serving new home interiors in Kolkata six months ago, and have received great traction. We have done 7X more business in Kolkata than in any other city we operate in, over a comparable period.
For us, the average ticket size for home interiors here has also been higher than any other city.
Kolkata—the last of the tier-1 cities we forayed intowitnessed the highest adoption rate for our services.
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Old February 20th, 2020, 06:31 PM   #4729
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Quote:
Originally Posted by Suncity View Post

The main issue could be financing of the project. GOI has very little money to spend and PPP model adopted may not get private investors under current economic scenario.
World Bank offers funds for freight corridor between Bihar and West Bengal

Quote:
World Bank has offered to give financial assistance to the last remaining portion of the Eastern Dedicated Freight Corridor (EDFC) between Sonnagar and Dankuni, which India is originally slated to construct in Public-Private Partnership (PPP) mode. The DFC has also got the green signal from Railways to allow private freight trains in its corridors, if companies come forward with such propositions.

World Bank’s interest in funding the 528-km stretch Bihar’s Sonnagar and West Bengal’s Dankuni of the corridor has now presented Indian Railways with the option to do course correction and go for financial assistance in the form of a viability gap funding or carry on as planned and invite players to bring in the capital. The entire EDFC is being built with a loan from World Bank, except for the last portion, between Bihar and West Bengal.

The project documents detailing the PPP model for the stretch has gone to the Finance Ministry’s PPP Appraisal Committee which vets all such projects in government.

“World Bank has offered (financial assistance) to us, because the project is very viable. But we have sent documents to the PPPAC as well. We will take a call,” Anurag Sachan, Managing Director of Dedicated Freight Corridor Corporation Limited (DFCCIL) said Friday.

“We will be floating Request for Qualification for private players to come forward. Now we have this choice of going for the World Bank assistance as well,” he said adding that private players have indicated that financial closure of something like Rs 9,000 crore for, say, a stretch like Sonnagar to Gomoh, on their own might be difficult.

World Bank’s Senior Transport Specialist Atul Agarwal said that this was a way for the bank to facilitate private players in the project. “Of course, the proposal has to formally come from the government. But what we have said is that we would be open to facilitating entry of private players in the project through viability gap funding. It is a good effort and we would be willing to help in whatever way we can,” he told The Indian Express.

The DFC, after renewed push from the Modi government for its completion, is looking at completing the project by December 2021. As a means to utilize the huge capacity being created in the two corridors, the Railway ministry has given the nod to the company to accommodate private freight trains as well and levy track access charges. Unlike passenger trains, private freight trains is not new as there are several private container train operators in India.

“We will allow private freight trains in a non-discriminatory way. A regulator will decide the various conditions,” Sachan said outlining the future of what is billed as the biggest infrastructure project in independent India. “There is the automobile sector, containers and others. We will also offer time-tabled freight service to e-commerce companies, like Amazon and Flipkart etc. The idea is that the huge capacity that we are building should not go underutilised,” he said.

The DFCs would run long-haul freight trains, each around 1.5 km long carrying 13000 tons of freight. It will run 120 such trains each way every day at 100 km per hour. The current speed of freight trains in India is around 25 km per hour.

This is because as per estimates by the DFCCIL, it has the capacity to bring in an additional 163 million tonnes of freight into the rail sector within two years after its commissioning and the subsequently the modal share of railways in freight movement is expected to go up subsequently, its projections say.

The 1856 km Eastern Dedicated Freight Corridor between Ludhiana in Punjab and Dankuni will be controlled seamlessly from the world’s second largest train control centre with a 90 meter video wall. This is second only to China’s train control centre in Shanghai to control 10,000 km of its high speed network. Prime Minister Narendra Modi might inaugurate this facility on February 29 along with other projects when he is in Allahabad next week, officials said.
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Old February 21st, 2020, 10:23 AM   #4730
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An Italian company thinking of making metro coaches in Hindmotor

Quote:
গত কয়েক বছরে হুগলিতে বন্ধ হয়েছে একাধিক কারখানা। ক্রমশ অন্ধকার ঘনিয়েছে শিল্পাঞ্চলে। ইতালির এক সংস্থার হাত ধরে এ বার সেই অন্ধকারে কিছুটা আলো সঞ্চারের সম্ভাবনা তৈরি হয়েছে।

উত্তরপাড়ার হিন্দুস্থান মোটরস কারখানা থেকে মেট্রো রেলের কোচ তৈরির পরিকল্পনা করছে সংস্থাটি। ইতিমধ্যেই ওই সংস্থার ভারতীয় প্রতিনিধি দল ওই কারখানা চত্বর পরিদর্শন করে গিয়েছেন। মঙ্গলবার রাজ্যের শিল্পসচিব বন্দনা যাদবের সঙ্গে এই নিয়ে কলকাতায় শিল্পভবনে একপ্রস্থ বৈঠকও করেন তাঁরা। বিষয়টি নিয়ে সে ভাবে প্রকাশ্যে মুখ খুলছে না কোনও পক্ষই। শুধু শিল্প দফতরের এক কর্তা বলেন, ‘‘পুরো বিষয়টি আলোচনার স্তরে আছে। একটা সম্ভাবনা তৈরি হয়েছে। সেটাকে বাস্তবায়িত করাই আমাদের লক্ষ্য। তিনি আরও জানান, প্রকল্পটি হলে মেট্রোর কোচ বড় ট্রেলারে সড়কপথে হিন্দমোটর থেকে পুণে নিয়ে যাওয়া হবে। সেই কারণে হিন্দমোটর কারখানা লাগোয়া টিএন মুখার্জি রোডের বিদ্যুৎবাহী তার কিছুটা উঁচু করে দেওয়ার জন্য সংস্থার তরফে প্রস্তাব দেওয়া হয়েছে।’’

১৯৫৪ সালে ভারতের প্রথম চার চাকা গাড়ি তৈরি হয়েছিল এই হিন্দমোটর থেকেই। কিন্তু ২০১৪ সালে কারখানার ঝাঁপ বন্ধ হয়ে যায়। কারখানার একটি ছোট ইউনিট কিনে নেয় উত্তর ২৪ পরগনার টিটাগড় ওয়াগান লিমিটেড। সেই ইউনিটে মালগাড়ির যন্ত্রাংশ, চাকা তৈরির কাজ হচ্ছে। রেলের মালগাড়ি তৈরির বরাতও পায় সংস্থাটি। কয়েক বছর হল এখানে ইউএমইউ লোকাল ট্রেন তৈরির কাজও হচ্ছে। এ বার সেখান থেকেই মেট্রো রেলের কোচ তৈরির পরিকল্পনা চলছে বলে সূত্রের খবর।

টিটাগড় ওয়াগন লিমিটেডের সঙ্গে ইতালির ওই সংস্থাটির বাণিজ্যিক বোঝাপড়া আছে। সেই সংস্থাটি পুণেতে মেট্রো রেলের কাজের বরাত পেয়েছে। সূত্রের খবর, সংস্থা চাইছে টিটাগড় ওয়াগনকে দিয়ে হিন্দমোটর ইউনিট থেকে মেট্রো রেলের কোচ তৈরি করতে। ইতালির ওই সংস্থাটির ভারতীয় প্রতিনিধিরা হিন্দমোটরে এসে ওই ইউনিটের পরিকাঠামোগত কিছু রদবদলের প্রস্তাব দিয়ে গিয়েছেন। কারখানা লাগোয়া টিএন মুখার্জি রোডে কিছু সংস্কার ও কাজের প্রস্তাবও রাজ্য সরকারকে দিয়েছে ওই সংস্থাটি।

ইতিমধ্যেই শিল্পায়নের এই সম্ভাবনার কথা ছড়িয়েছে হুগলি শিল্পাঞ্চলে। তাতে আশায় রয়েছেন শ্রমিকেরা। হিন্দমোটরের মতো হুগলির ডানলপ কারখানার ঝাঁপও বহুদিন বন্ধ। জুটমিলগুলির অবস্থা ভাল নয়। নতুন প্রকল্প হলে শিল্পাঞ্চলে সুদিন ফিরবে বলেই আশাবাদী সকলে।
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Old February 24th, 2020, 09:16 AM   #4731
DebjyotiSamKolkata
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https://www.outlookindia.com/newsscr...el-biz/1739937

Kolkata, Feb 20 (PTI) The city-based SAI Group is planning to invest Rs 1,000 crore over the next 3-5 years in West Bengal for its steel business, notwithstanding the sluggish demand in the country''s economy, a company official said on Thursday.
The group, which is engaged in iron and steel sector, has witnessed slowdown in demand but is looking to expand its manufacturing capacity, the official said.

Super Smelter Ltd, the mother plant for the group, posesses 150 acres of land at Jamuria in West Burdwan district of West Bengal and is looking for another 150 acres for expansion of the unit, the official said.

"We are keen to invest more in the state and looking at doubling the capacity of TMT bars in the first phase," Super Smelter chief mentor Gopal Krishna Sharan said on the sidelines of the launch of a premium grade product.

The group is "looking at Rs 1,000 crore investment in the next 3-5 years" and most of the capital expenditure will be made towards TMT bar manufacturing capacity, which the company intends to take to 1.2 million tonne per annum from 2.4 lakh tonne now, he said.

The group has sought relaxation of the land ceiling cap for the expansion of its unit, he said.

SAI Group was trying to acquire iron-ore mine in Odisha and has already participated in the bidding process for four such blocks, another official said.

Sharan said that the topline of Super Smelter in FY20 is expected to be Rs 1,200 crore from Rs 1,500 crore in FY19 due to the slowdown in demand.

There "has been a silver lining" in demand during the fourth quarter of the current fiscal.
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Old February 24th, 2020, 09:23 AM   #4732
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http://www.millenniumpost.in/kolkata...ustries-402333

Kolkata: The Bengal government has already fructified around Rs 4.45 lakh crore in large industries out of the total investment proposals received by the government in the last five years of Bengal Global Business Summits (BGBS). State Finance minister Amit Mitra in his recent budget statement claimed that the state government has seen a huge amount of success in all the five editions of BGBS and received a large number of investment proposals. Out of this, around Rs 4.45 crore investments have already been pumped into large industries across the state.
Mitra's budget speech also presented the Central government data where the Union Commerce and Industries minister corroborated the fact that Bengal has received a foreign capital investment of Rs 22,267 crore in the last 8 years.
This proves that Bengal is surging forward, Mitra's budget statement said. Bengal has secured the first position in terms of total investment received by the state in small and medium industries through Co-operative and commercial banks.
The Finance minister's statements point that the government has seen an investment of Rs 2,43,419 crore in small and medium industries in the last 8 years through co-operatives which is the highest in the country. It may be mentioned here that Chief Minister Mamata Banerjee brought in the concept of organising BGBS to encourage investment in the state. It has given an impetus to the growth in the industrial and other sectors with more foreign money being pumped into the sectors. State Finance minister also presented a comparative study to show how the Bengal government has taken the industrial growth to a new height when the Union government has failed miserably to secure industrial growth in the country.

Industrial growth in India during 2019-20 (April-November) remained around 0.6 per cent while the figure in Bengal is five times higher than the national growth rate. Bengal government has stood first in various other sectors like the ease of doing business (EoDB), rural housing, small scale industries, rural road, minority scholarship, skill development and E-tendering, read the budget statement of Mitra.


"In the last 8 years, considerable work has been done by our government in the field of good governance and economic reforms under different social protection schemes for the citizens. Even after repaying the huge burden of loan and at the same time persistent non-co-operation of the Central government, we are determined to introduce various social development schemes for the citizens," read the budget statement.
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Old Today, 10:18 AM   #4733
rupakd
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Indian Oil invests Rs 6,690cr in state

Kolkata: Maharatna Oil PSU Indian Oil is investing Rs 6,690 crore in West Bengal that includes its Rs 3,000crore funding in Haldia Refinery for making it BS VI-compliant. IOC executive director Pritish Bharat pointed out that besides BS VI, it is investing in pipelines, modernisation of retail outlets along with others. The PSU oil-marketing company is investing Rs 341 crore in Paradip-Somnathpur-Haldia pipeline project and another Rs 1,199 crore for augmentation of Paradip-Haldia-Durgapur pipeline.
All the pipeline projects are likely to be completed by October 21, though some projects would be operational before that, the IOC ED said.

Earlier, Bharat said that it has already started supplying BS VI-compliant products to retail outlets so that it can gradually mix with BS IV and by April 1, the entire fleet of 1,233 retail outlets of IOC in the state is refilled with BS VI. According to him, 26 new retail outlets and 43 rural outlets will be commissioned this year in West Bengal.

Elaborating future plans, he added that around 300 retail outlets will be coming up in West Bengal, Sikkim and Andaman in the next one-two years. “As on January 2020, 21.3% of overall transactions at retail outlets are digital transactions in the state,” he added.

Besides BS-VI and pipeline, IOC has also embarked on green fuel initiative in the state by converting waste into bio gas. “We have taken up compressed bio gas project where biodegradable waste will be compressed into methane gas which later will be refined further to CNG. IOC has tied up with Dharti Energy and Divya Auto for this. We shall have a buy-back arrangement with them. Our company has already set up a pilot project for this in Tamil Nadu,” he added.

According to him, it would supply CNG initially to two-three retail outlets from these projects. The JV of IOC and Adani, IndianOil-Adani Gas, has won the city gas distribution rights for East and West Burdwan. IOC on its own has also applied for city gas distributions rights for 11 districts in Bengal.


https://timesofindia.indiatimes.com/...w/74348396.cms
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Old Today, 03:36 PM   #4734
Rikonline
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Quote:
Originally Posted by rupakd View Post
Indian Oil invests Rs 6,690cr in state

Kolkata: Maharatna Oil PSU Indian Oil is investing Rs 6,690 crore in West Bengal that includes its Rs 3,000crore funding in Haldia Refinery for making it BS VI-compliant. IOC executive director Pritish Bharat pointed out that besides BS VI, it is investing in pipelines, modernisation of retail outlets along with others. The PSU oil-marketing company is investing Rs 341 crore in Paradip-Somnathpur-Haldia pipeline project and another Rs 1,199 crore for augmentation of Paradip-Haldia-Durgapur pipeline.
All the pipeline projects are likely to be completed by October 21, though some projects would be operational before that, the IOC ED said.

Earlier, Bharat said that it has already started supplying BS VI-compliant products to retail outlets so that it can gradually mix with BS IV and by April 1, the entire fleet of 1,233 retail outlets of IOC in the state is refilled with BS VI. According to him, 26 new retail outlets and 43 rural outlets will be commissioned this year in West Bengal.

Elaborating future plans, he added that around 300 retail outlets will be coming up in West Bengal, Sikkim and Andaman in the next one-two years. “As on January 2020, 21.3% of overall transactions at retail outlets are digital transactions in the state,” he added.

Besides BS-VI and pipeline, IOC has also embarked on green fuel initiative in the state by converting waste into bio gas. “We have taken up compressed bio gas project where biodegradable waste will be compressed into methane gas which later will be refined further to CNG. IOC has tied up with Dharti Energy and Divya Auto for this. We shall have a buy-back arrangement with them. Our company has already set up a pilot project for this in Tamil Nadu,” he added.

According to him, it would supply CNG initially to two-three retail outlets from these projects. The JV of IOC and Adani, IndianOil-Adani Gas, has won the city gas distribution rights for East and West Burdwan. IOC on its own has also applied for city gas distributions rights for 11 districts in Bengal.


https://timesofindia.indiatimes.com/...w/74348396.cms
The number is perhaps encouraging but almost half of the investment is to modernize the existing plant, which, as far as i understand, would not create many long term jobs, other than the temporary ones created during the modernization. But again, as someone from West Bengal, we should welcome every penny we can get.
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Old Today, 06:12 PM   #4735
generio
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Originally Posted by Rikonline View Post
The number is perhaps encouraging but almost half of the investment is to modernize the existing plant, which, as far as i understand, would not create many long term jobs, other than the temporary ones created during the modernization. But again, as someone from West Bengal, we should welcome every penny we can get.
I like to believe that WB is entering a very unique stage in its history perhaps. The transition phase has only begun. Maybe in the next 5-10 years we would be on competing terms with cities like Hyderabad, Pune and Chennai.
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