WBSIDC to set up multiproduct industrial estates

Kolkata, Apr 20 (UNI) The West Bengal Small Industries Development Corporation (WBSIDC) Limited today signed a Memorandum of Understanding (MOU) with five private companies to set up multiproduct industrial estates.

The total investment for this purpose is Rs 109 crores, to be raised by 60:40 equity partnership between Government and the Companies.

WBSIDC Managing Director A Subaiyya said, " The joint Venture (JV) partnership will aim at developing small industrial estates, consisting of auto ancilliary, Real Estates and IT and ITES." The Phase I investment allocation of the five companies are PS Housing Finance Ltd (Rs 40 Crore), South City Parivar Pvt. Ltd- Bengal Matrix Infrastructure Ltd. (Rs 25 Crores), Emami Ltd (Rs 10 Crores), Merlin Group (Rs 20 Crores) and South City Projects (Kolkata) Ltd. (Rs 40 Crores).

The WBSIDC had earlier signed MOUs with five companies to initiate the first Private-Public Partnership during 2006-07. Lands acquired for the formation of Joint Sector Companies are mostly Government lands.

The ongoing 20 projects, including 13 in districts, of the WBSIDC are Garia Commercial Complex, Berhampur Industrial Estate, Durgapur Commercial Complex, Santoshpur Industrial Estate, Tangra Industrial Estate, Industrial Estate on land of Ganges Printing, Improvement of infrastructure in existing Industrial Estates.

The projects are being funded by Small Industrial Development Fund (SIDF), State Government, Rural Infrastructure Development Fund (RIDF) with assistance from the Central Government.

Alongside WBSIDC is planning to widen the JV to Darjeeling, Coochbehar, Uttar and Dakshin Dinajpur, Malda, Hooghly, Bankura and Purulia districts. They will aim at developing the indigeneous production of leather, toys, plastic, handicrafts and rail parts manufacturing. Chairman WBSIDC Moinul Hasan said, "We are aiming at creating monopoly in the sale of home made furnitures and soaps." Meanwhile, Mr Hasan informed that the unaudited profit for the last fiscal was Rs 2.66 crore. the lands acquired for UNI