Bengal eyes Rs 20,000 crore investment push under new govt

Kolkata: West Bengal is set to witness investments of around Rs 20,000 crore in the coming days, including Rs 15,000 crore by Shyam Steel in Mejia, Rs 4,000 crore in a steel plant in Durgapur and a Rs 700 crore Amul investment in the offing, after the new BJP government came to power in the state, West Bengal Chief Minister Suvendu Adhikari said on Saturday.

Meanwhile, the first major investment in the state took place today with the foundation stone laying ceremony of the Dankuni plant by Lux Industries, with an investment worth Rs 600 crore. West Bengal Chief Minister Suvendu Adhikari, Industry and Commerce Minister Tapas Roy, Labour and Transport Minister Arjun Singh and BJP state president Samik Bhattacharya were present at the ‘bhumipujan’ ceremony.

“In Mejia, the foundation stone laying of the Shyam Steel plant, with an investment of Rs 15,000 crore, will be done on July 17. Amul plant bhumipujan will be done by Union Home Minister Amit Shah this month in Dhulagarh. In Durgapur, another steel plant expansion of Rs 4,000 crore will be done in August,” the CM said.


Lux Industries, which owns the Lux Cozi brand, laid the foundation stone for the Rs 600-crore expansion of its integrated manufacturing facility today.

“The investors in Bengal will get the benefits of a double-engine government in Bengal and all poll promises made by PM Narendra Modi will be fulfilled,” the CM said. “Improvement of law and order, with the stoppage of syndicate raj, cut-money extortion and politicisation in every sphere, is essential for creating an industry-conducive environment. It has already started happening in the last two months.”

“An investor-friendly environment can be ensured when law and order is in place. The government will stand by investors and businessmen,” the CM said.

“In 20-plus states which are NDA-ruled, investment, infrastructure development and the business environment are conducive. In Gujarat, UP, Maharashtra, Andhra Pradesh and Assam, the entire business environment has changed after the NDA came to power,” he said.

He emphasised the need for revenue generation. “Once the state was revenue surplus. This state’s economy was better than Tamil Nadu and Gujarat. From Rs 2 lakh crore debt at the end of the Left regime, the debt is now Rs 8 lakh crore during the tenure of the Trinamool Congress government. We have to increase our own revenue. New investments are welcome as they will help increase revenue,” the CM said, adding the state is paying Rs 1 lakh crore in interest.

“If this Rs 1 lakh crore remained, we could have built more flyovers, road over-bridges, irrigation projects, smart classrooms and super-specialty hospitals,” he said.

With this Lux Cozi factory, in addition to the Rs 600 crore investment, employment will be generated for 9,000 people and there will be revenue earning worth Rs 1,000 crore, the Chief Minister said.

Adhikari said investors will not have to acquire land by themselves. “We will do direct land purchase for industry. We have started a direct land purchase policy. We are giving land to the BSF at the border, buying land for railways, national highways and new airports. Similarly, private industrialists who want to invest in this state will face no problem regarding land. Under the direct land purchase scheme, we will purchase land and hand it over to you,” he said.

Investors with investments over Rs 100 crore will not have to take permission from multiple authorities such as panchayats, municipalities, corporations or panchayat samitis. A single-window system has been introduced which will provide NOCs, licences and permissions from the Environment and Land departments, he said.

After the formation of the new government, emphasis has been placed on social welfare, strengthening law and order, and support for farmers, healthcare and education.

“More than 2 crore educated unemployed youth and nearly 1 crore migrant workers are in other states,” he said.