Japanese investment opportunity in Bengal likely to receive a jolt

Kolkata, Aug 10 (UNI) The West Bengal government's recent agreement with the Salim Group of Industries of Indonesia for building the Raichak- Kukrahati bridge over the Hooghly might deal a major blow to future Japanese investment in the state.

Japanese Consul General in the city Yoshikazu Takeuchi described the state government's decision to favour the Salim Group by signing an MOU with its CEO regarding the Rs 4000 crore construction project as "unfortunate and a pity".

He said they had failed to undertstand the rationale behind the state government's decision since the Japan International Cooperation Agency(JICA) had worked on the project for more than year and already spent about 40 million yen for preparating a detailed feasibility study as desired by the government.

Speaking to newsmen here today on the sidelines of an interactive session with members of the Bharat Chamber of Commerce(BCC), Mr Takeuchi informed that he was accompanying a high level JICA delegation to meet Chief Secretary Amit Kiran Dev here tomorrow to "officially know the state government's view on the issue".

Asked whether the likely government decision to hand over the construction of the proposed Raichak-Kukrahati overbridge to the Indonesian group after the Japanese agency was asked to prepare a feasibility report spending a lot of money would have any negative effect on the future Japanese investment opportunity in the state, Mr Takeuchi without giving any direct reply, however, did not deny any such possibility.

" Though the industrial scenario in the state is looking up in all respects, the Japanese investors and the aid agencies should be more careful in future, " he commented but refused to elaborate further.

Regarding the possibility of JICA or the Japanese External Trade Organisation (JETRO) in taking any interest in the proposed construction of the much-talked-about deep sea port on the Southern coast of West Bengal, the Japanese Consul General ruled out any such project under joint venture.

On the contrary, Mr Takeuchi said outside West Bengal the Japan Bank of International Cooperation(JBIC) and the Japan Railways Technological Services had evinced keen interest in participating in the multi-million rupee construction project for the Pan India Railway Frieght corridor between Delhi and Mumbai and Delhi and Kolkata.

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