Shapoorji Pallonji keen to invest big time in Bengal
02 Aug 2012
The Shapoorji Pallonji Group, the conglomerate that is among other things, one of India's biggest infrastructure builders, plans to expand its investments considerably in West Bengal to shore up the state's infrastructure, group chairman and managing director Shapoor Mistry said after a meeting with state chief minister Mamata Banerjee on Wednesday.
It is looking to invest in a mix of projects, including deep sea ports, mini hydro power ventures, roads and information technology hubs. It is also looking to step up corporate social responsibility activity in the state.
"We have already invested over Rs1,000 crore in West Bengal. We have come today to explore various other avenues which could be of mutual benefit and interest for both West Bengal government and SP Group," said Mistry, emerging from his meeting with the chief minister at Writers' Building in Kolkata.
"The group intends to participate in expressions of interest to be floated for these ventures. Some areas we are looking at are a deep sea port, some 8-9 mini-hydel projects, IT hubs, construction of roads both in the hills and the plains areas, as well as marine engineering consultancy institutes,'' Mistry told reporters.
"Total investment in these projects could be over Rs10,000 crore. The group may enter into a series of ventures with us to undertake these projects," Singapore-based Universal Success chairman Prasoon Mukherjee, who was also present at the meeting, said.
The Mumbai-based SP group, with interests in construction, real estate, and shipping, is one of the largest stakeholders in Tata Sons. Mistry's younger brother Cyrus P Mistry is the chairman-elect of Tata Sons, the holding company of the Tata Group.
