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State unveils Rs 5000-cr infrastructure agenda


By Rajesh Kumar, Section Infrastructure
Posted on Sat May 28, 2005 at 01:59:58 AM EST

KOLKATA: The state government on Monday announced plans to establish a chemical hub at Haldia and earmark 500 acre for an IT-cumbiotech park near the city airport as part of a Rs 5,000-crore programme to upgrade industrial infrastructure.

State commerce and industries minister Nirupam Sen said development of an eastern link highway connecting national highways 34 and 117, setting up of a health city near Sonarpur and an agro-business-cum-border trade park at Siliguri also formed part of this exercise.

Sen said a joint venture between West Bengal Industrial Development Corporation (WBIDC) and Infrastructure Leasing & Financial Services (IL&FS) would be responsible for giving shape to these projects and later helping in the formation of special purpose vehicles (SPV) to implement these ventures.

The shareholder's agreement for the 50:50 JV between WBIDC and IL&FS, that is still unnamed, was signed on Monday. The JV would have an initial equity base of Rs 5 lakh, and each partner in addition would contribute Rs 1 crore each for the knowledge city and health city projects.

Sen said the state had made a presentation to the ministry of chemicals and fertilisers earlier this month on the chemical hub project, in which IL&FS and other stakeholders like Indian Oil Corporation, Haldia Petrochemicals Ltd and Mitsubishi Chemicals had also participated.

"We are hopeful that we will get the Centre's nod for the chemical hub that we want to develop as a special economic zone (SEZ)," he said. Gujarat is seeking federal assistance for a similar project, Sen added.

Talks about a chemical hub at Haldia have been doing the rounds ever since the NDA regime came to power in Delhi. Earlier this year, IOC also expressed interest to undertake a project of this kind here.

"We will soon start acquiring land for the IT-cumbiotech project," Sen said. He did not comment on the timeframe set for this purpose. No decision has been taken on how much of the identified area would be reserved for IT companies, he added. Assuming that the bulk of the land goes to IT, it would mark the biggest land allocation for infotech ventures in Bengal.

Sen said the eastern link highway, for which talks are on with the Centre for providing funds, would initially start as a two-lane highway and later upgraded to a fourlane facility to speed up traffic flow. Initial cost for this project has been pegged at Rs 1,500 crore.

IL&FS CMD Ravi Parthasarathy said his organisation was also helping the state in developing infrastructure at Haldia. It had managed to secure Rs 50 crore towards this end from the Union commerce ministry, he added.

http://timesofindia.indiatimes.com/articleshow/1119549.cms

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