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Govt gets ABG investment proposal of Rs 1,000 crore

According to an official, the group has shown interest to come up with a water-based solvent and has requested for allotment of land for decorative paint unit with backward integration on 80 acres of land in Vidyasagar Park.

Statesman News Service | Kolkata |

Aditya Birla Group has come up with an investment proposal worth Rs 1,000 crore for setting up a paint manufacturing unit in West Bengal.

The group has written to chief minister Mamata Banerjee for allotting 80 acres of land in Vidyasagar Industrial Park in Kharagpur to set up the unit. The unit, if set up, will generate 600 direct jobs and 1,500 indirect jobs which is expected to be commissioned in 18 to 24 months.

Sunil Bajaj, Group Executive President and Ajith Kumar K, Chief Operating Officer, New Projects met state chief secretary HK Dwivedi this afternoon and finalised the investment proposal.

According to an official, the group has shown interest to come up with a water-based solvent and has requested for allotment of land for decorative paint unit with backward integration on 80 acres of land in Vidyasagar Park.

Along with the main unit, they would also set up their ancillary units. The project involves an investment of Rs 1,000 crore, said the official. The Group has thanked the chief minister and the state government for their prompt and proactive support added the official.

The group, which is a global conglomerate, in the Fortune 500 companies, is venturing into paint business and had written to Miss Banerjee on 4 October with their interest to set up a Paint Manufacturing unit in Bengal. Meanwhile, several Italian units are in talk with the state government for investing in the sectors of manufacturing, leather and textile industry and food processing.

In 2016, Miss Banerjee and the then industry minister Amit Mitra had visited Italy and spoke to many organisations for investment in West Bengal. After several meetings, many organisations both government and private have
expressed their eagerness to invest here. They are set to ink MOUs with the state government next week.