ITC to invest Rs 4,000 cr in Bengal

Tags: News
ITC is likely to invest Rs 3,000-4,000 crore in West Bengal over the next three to four years. ITC chairman YC Deveshwar who met West Bengal, chief minister, Mamata Banerjee at Witers’ Buildings on Tuesday indicated that the company is likely to make fresh capital inflows into the state in different areas.

Soon after his meeting with the chief minister, Deveshwar said, “You will see Rs 3,000-Rs 4,000 crore investments over the next three-four years.” Although he did not specify the areas where the company would make fresh investments, company officials said that the investments would be made in foods, hotels and Triveni Tissues.

ITC Hotels has already taken up a siginificant expansion programme adjacent to its existing star property- ITC The Sonar.

Significantly, ITC chairman is learnt to have discussed the vexed land issue, which is standing in the way of ITC Infotech’s expansion in the city and there are indications that the issue has been sorted out as well.

Responding to specific queries on the availability of land for ITC-Infotech, the IT arm of the group, Deveshwar only said that the state government was looking into the matter.

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