Chief Minister Mamata Banerjee-led West Bengal government has secured investment proposals worth over Rs 40,000 crore on the first day of the flagship business summit, which started on Thursday.
At least ten partner countries, over 32 nations across the globe, and big delegations from India participated in the summit that got Thursday underway, suggested media reports.
According to the media report, in the fourth edition of the event in 2018, the state government had secured an investment commitment worth USD 145.93 billion.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, has proposed to make an additional investment of Rs 10,000 crore in the digital space of the state for expansion of his Reliance Jio’s 4G network. His company has already invested Rs 28,000 crore in the state, which is the biggest investment in the digital space of West Bengal so far.
Speaking at the Summit, Ambani said that investing Rs 10,000 crore more is already under implementation. He added that in 2016 when he first attended the summit, Reliance’s investment in the state was to the tune of Rs 4,500 crore. Sanjiv Puri, MD, ITC, said the group would invest Rs 1,700 crore to set up a new personal care products plant and upgrade its current facilities in the state.
Sajjan Jindal, chairman and managing director of the JSW Group, said the group is planning to double the capacity of a cement plant in West Bengal and is considering setting up a steel plant worth Rs 50,000 crore could not finalize it due to lack of raw material.
Great Eastern Energy Corporation Ltd. (GEECL) has proposed to invest Rs 15,000 crore in West Bengal over the next five years. Among other Indian companies, Hiranandani Group has announced to make a fresh investment of Rs 2000 crore in the state. Karan Adani, Chief Executive Officer, Adani Ports, and Special Economic Zones, has said the group would set up a port and logistics park in Bengal.
Among the global delegates, Coca-Cola has announced to invest Rs 500 crore, and UAE-based DP World proposes to develop Kulpi Port at an investment of Rs 3,000 crore.