17.1.13

ITC lines up Rs.3000 crore investment in WB


The West Bengal Industrial Infrastructure Development Corporation (WBIIDC), the nodal body for industrial infrastructure, is all set to hand over 39.5 acres near Panchla in Howrah to ITC, the biggest corporate house in the state, this week for an integrated foods, personal care products and logistics hub.
The project alone could attract investments worth over Rs 2,000 crore in the next two to three years.
The land at Panchla was identified for ITC in 2008 by the Left Front government and the WBIIDC acquired it from various landowners. However, it could not be handed over to the company as disputes surfaced over the land-holding pattern.
The project was subsequently scrapped. As an alternative, the Left Front government offered ITC 18.5 acres in Uluberia for a food processing unit in 2010.
Following a change of guard in the state, talks reopened between the Mamata government and ITC in mid-2011 for the Panchla project. This time, the WBIIDC was able to overcome the legal hurdles.
ITC also setting up food processing unit over 18.5 acres in Uluberia
ITC has lined up investments worth Rs 3,000 crore in the state for the next 2-3 years.
After the company’s last annual general meeting, ITC chairman Y C Deveshwar had hailed the new Bengal government for helping the conglomerate resolve the dispute over the Panchla land. He called on chief minister Mamata Banerjee in November 2012.

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