Private Sector | West Bengal - India | PID: 185438
After Hyderabad, Bengal may become the second destination in the country for Swedish home furnishings giant IKEA. This high-profile investment proposal by the 38 billion euro (Rs 3 lakh crore) global major was disclosed by state finance and industries minister Amit Mitra. Ikea had set up its first store in India in Hyderabad in August 2018

Their top-ranking officials attended the summit this time. Unless they had taken a decision, top officials would not have been here,” Mitra said, hinting that IKEA will set up a store in the state. IKEA’s country property manager David McCausland, in his address, said the company would invest in the state

The second day of the Bengal Global Business Summit also saw another Swedish major, DP World (Dubai Port World), a leading port operator in the world, evincing interest in Tajpur deep sea project if implemented on private-public partnership basis

DP World may bid for Tajpur deep-sea port project

Mitra indicated that the Swedish furnishings major is scouting for land in the state. As far as I know they would look for land with proper connectivity. They will choose land which is in tune with their business philosophy,” he added

The minister had earlier said IKEA may make Bengal one of its procurement hubs in India for its worldwide operations. IKEA India project leader (new business development) Ritesh Singh, when he was in the city last year, had indicated that West Bengal featured in its procurement plan from India. The company was planning to procure bamboo and natural fibre from India

Mitra also added that DP World is keen to participate in Tajpur deep sea port. “If there is bidding for partner then it would bid for that,” he said. Jibu Kurien Itty, the CEO of DP World, had participated in BGBS. DP World has already announced to revive the project of setting up a container port terminal in Kulpi with an estimated investment of Rs 3,000 crore

Incidentally, DP World has 74% stake in the special purpose vehicle for this while Keventer has 21% and WBIDC has 5%

| Updated on: 09 - Feb - 2019
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