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Duo line up investment in Bengal

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Calcutta: Bengal industry and finance minister Amit Mitra has disclosed two upcoming investments in the state – one, a state-owned firm teaming up with an overseas partner and the other with export potential.

Shalimar Works, a state government-owned shipbuilding and repair firm is looking to partner with a Bangladeshi firm to form a special purpose vehicle, while IFB Agro, which is known for its liquor and seafood businesses, is setting up a manufacturing unit at Halidia to export shrimps.

“Shalimar Works builds civilian vessels for Indian Navy and they have requested the government that they are interested in a partnering with a Bangladesh shipbuilding company. We have written to the ministry of external affairs and defence and they have cleared. Very soon it will happen,” Mitra said.

“I have also got a call a few months back from IFB Agro which plans a modern tiger shrimp export unit at Haldia,” Mitra said adding that Bengal is a major contributor of shrimp export out of India. The minister however has not disclosed the investment amount.

Mitra further said the state government is offering incentives to financial institutions to set up their offices in the financial hub at New Town Rajarhat.

“Part of the construction (49 per cent) can be used for non-banking purpose (like residential space) by the banks,” Mitra said.

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