Real estate development arm of WB govt HIDCO seeks presence of foreign banks in financial hub

KOLKATA: The real estate development arm of the West Bengal government HIDCO would invite banks from Singapore and Hong Kong for taking part in the proposed international financial hub at Rajarhat-New Town area near the metropolis.

"We are looking forward to the banking sector in Singapore and Hong Kong to buy space in the hub for which roadshows will be held," principal secretary with urban development department Debashis Sen said.

Speaking at an Assocham seminar where urban development minister Firhad Hakim was also present, Sen said that so far, nine entities had evinced interest in the hub.

These were State Bank of India, UBI, UCO Bank, Institute of Chartered Accountants of India, Allahabad Bank, West Bengal Infrastructure Development Finance Corporation, West Bengal Finance Corporation and National Insurance.

Central council member of Institute of Cost and Works Accountants of India Manas Thakur told PTI that the institute had earmarked Rs 15 crore for buying a plot in the hub.

He said that HIDCO was planning a 59-storeyed iconic building in the hub for which it would carry out a design competition.

A convention centre with a seating capacity of 3000 would also come up near the hub, he said.