ITC Ltd to pump in Rs 1,000 cr in WB
On the heels of Reliance Industries' announcement of investing up to Rs 4,000 crore, cigarette to FMCG major ITC Ltd on Monday said that it would pump in Rs 1,000 crore in West Bengal on hotel, IT, logistic hub, agri and cigarette business.
By PTI |
KOLKATA: On the heels of Reliance Industries' announcement of investing up to Rs 4,000 crore, cigarette to FMCG major ITC Ltd on Monday said that it would pump in Rs 1,000 crore in West Bengal on hotel, IT, logistic hub, agri and cigarette business.
"The company has lined up investment of Rs 1,000 crore for the state which will include expansion of its hotel ITC Sonar Bangla and its cigarette factory at Khidderpore. ITC also proposed to set up an IT project, logistic hub, a biscuit factory and agri business," company chairman Y C Deveshwar told reporters.
Deveshwar who held a marathon two-hour meeting with Chief Minister Buddhadev Bhattacharjee at the state secretariat, said that ITC wanted to increase the number of rooms in its hotel in the city to 300 from 237 at an investment of Rs 350 crore.
The company sought 10 acres adjacent to the hotel on the E M Bypass.
The company's proposals submitted to the state government included expansion of the cigarette factory in south-western suburb of the city at an investment of Rs 300 crore, he said.
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The remaining 350 crore would be invested by the Kolkata headquartered company for its other businesses which include IT, logistic hub, a biscuit factory and agri business.Deveshwar said that the chief minister was very supportive to the ITC's proposals which wanted to invest more in the state. This would create job opportunities, he said.
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