Reliance to invest Rs 4000 crore in agri-retail business in WB
on December 15th, 2007 at 5:10 amKolkata: Mukesh Ambani controlled Reliance Industries is expected to make an investment of Rs 4000 crore in West Bengal as part of its mega-retail plans which would be unveiled later this week.
Ambani is flying down here on June 21 to meet Chief Minister Buddhadeb Bhattacharjee after which the details of his plans in creating an agricultural retail chain would be announced.
West Bengal is part of Ambani’s mega-retail plan and the company has sought nearly 10,000 acres from the state government with estimated investment in the first phase touching Rs 4000 crores, sources close to the development said.
The substantial investment in agricultural sector of the state by Reliance would also help the Left Front government to counter the attacks by opposition parties that agricultrual land in the state was being sacrificed for setting up industrial units.
This criticism had mainly come in the wake of Tata Motors announcing its plans to set up its small car project in the state over an areas of 1000 acres.
Ambani’s agricultural retail plans envisages creating farm-to-the-shelf chains by setting up exclusive farms and opening a chain of hypermarkets and super-markets across the country on the lines of Wallmart.
