Mamata announces launch of Deocha Pachami project

Kolkata: On the first day of the Bengal Global Business Summit (BGBS) where investment proposals to the tune of Rs 91,000 crore were received, Chief Minister Mamata Banerjee announced that the Deocha-Pachami project, Asia’s second-largest coal mine, will commence on Thursday with basalt mining while also confirming to the media later that Tata Group chairman N Chandrasekaran has expressed his desire of investing in Bengal.

Countering the Opposition’s claim that the BGBS is a “futile exercise” to attract industry, Banerjee asserted that the event is designed to boost investment, generate employment and build a brighter future for the state’s youth and upcoming generations.

“Some people ask me why I am holding this business summit. I tell them that we started it but now every other state is following suit. Without employment, our young generation will not survive. For them, we have to go ahead. Bengal is one of the safest and smartest investment destinations,” Banerjee said, adding she has been invited by Japan to visit their country.

She highlighted that in the last seven editions investment proposals of over Rs 19.51 lakh crore were received. “I am happy to inform you that projects worth more than Rs 12 lakh crore have already taken off. The remaining ones are in various stages of implementation”.

Alluding to her critics, she said she speaks with evidence and does not feel the need to give a clarification to those who want to do mere politics.

“My government is only answerable to the people,” she asserted.

Banerjee said Decoha Pachami, the “catalyst for Bengal’s growth” and one of the largest coal blocks in the world has a reserve of 1,240 million tonnes of coal and 2,600 million tonnes of basalt. She said that basalt mining is set to begin on Thursday. This is the crucial step which will subsequently grant access to the coal reserves underneath. “There will be no power crisis in the coming 100 years. There will be ancillary industries too,” she added.

Speaking to reporters, Banerjee said she had a telephone conversation with the Tata Group chairman on Tuesday.

She said N Chandrasekaran told her he was eager to attend the BGBS but could not make it due to some other commitments. Further, he has promised he would send his CEO and other officials since he wants to make investment in Bengal and would come and meet her later to discuss opportunities.

The Chief Minister said that she suggested to him that since his group has now acquired Air India, a direct flight be launched connecting Bengal with Europe. “He sounded very positive and I think that it is very much in the process. I am optimistic that it will be a reality,” said Banerjee.

She announced that her government would form a new state-level ‘Investment Synergy Committee’ to be headed by the chief secretary. This will address investment-related issues across various sectors. “This will provide a one-stop, time-bound clearance mechanism for investment projects. Land, fire brigade, finance, MSME, power, housing, agriculture, industry – everything will be sorted out. It is not just talking about a single-window formula but ensuring a synergy. They will meet fortnightly to ensure no delays,” she maintained. The summit was also attended by personalities such as a Bhutan minister to Jharkhand Chief Minister Hemant Soren along with his wife Kalpana. Business tycoons, including Mukesh Ambani and Sajjan Jindal, among others also joined. Former Indian cricketer Sourav Ganguly also attended the event. Moreover, Mukesh Ambani, on Wednesday, announced a fresh investment commitment of Rs 50,000 crore in the state by the end of this decade which will generate one lakh jobs.

He also praised the leadership of Chief Minister Mamata Banerjee, calling her a “tireless leader”. JSW Group Chairman Sajjan Jindal committed to investing Rs 16,000 crore in two 800MW power plants in Salboni. He also expressed interest in further developing the Andal Airport. RP-Sanjiv Goenka’s group chairman Sanjiv Goenka pledged an investment of another Rs 10,000 crore in Bengal in the fields of energy, healthcare, and education, further boosting the existing Rs 40,000 crore investment.

Ambuja Neotia’s group chairman Harshavardhan Neotia said that his group plans to invest a little in excess of Rs 15,000 crore in the next five years.