West Bengal FM asks realtors to invest in business park

West Bengal FM asks realtors to invest in business park
22/12/2018 , by , in News/Views

The state finance and industries minister Amit Mitra has requested Credai and leading developers to join hands with the state government to develop a building material park in Bengal. He told real estate barons that the state government was ready to provide land at its industrial parks for a building material manufacturing hub.

The national vice-president of Credai and chairman of Merlin Group SushilMohta said he has spoken to NITCO, one of the leading tiles manufacturer to come to Bengal Global Business Summit. Mitra was at a CII event called Growth Drivers of Infrastructure Development.

Mitra pointed out the state has land in Kharagpur and Panagarh where a manufacturing hub like this can come up. “If you want an industrial park for building material, we can provide land. The state can also set up the common facility centre for the park,” he added.

According to Mitra, Bengal is becoming a cement hub, one of the key raw materials for real estate and infrastructure developments.

However, chief minister Mamata Banerjee is keen to see further backward integration in this area. “You can set up building tiles unit, glass unit, doors and windows and other interior materials. If we can do this then there will be a vertical integration,” he added. Mohta welcomed the development and said he is talking to NITCO top management to participate in Bengal Global Business Summit. “There is a definite scope for such (building material) a park here. Kolkata is the nerve centre of 13 states and three countries. So, it has a huge market for such materials. We have to realise real estate and retail are the main employment drivers,” he said.

Earlier, Mitra said that Mamata Banerjee government is stepping up infrastructure spending. “As per our estimate more than Rs 3 lakh crore gross state domestic product was added in last 7 years for the infrastructure spending of the government,” he added.

According to finance and industries minister the state government has projected a capex alone of 3.7% of GSDP by 2025 to 15th Finance Commission. It was 1.93% of GSDP in 2017-18 and was only 0.7% in 2010-11.

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