Mahindra & Mahindra Reconsiders West Bengal World City Project
Mahindra & Mahindra (M&M) has opted to decelerate its ambitious World City project in West Bengal. The conglomerate, encompassing diverse interests from automobiles and real estate to IT, financial services, and infrastructure, had initially earmarked Rs 4,000 crore for investment in the state over the coming years. This investment was intended for the development of a 100-acre IT Special Economic Zone (SEZ) and an integrated township.
Initial Discussions and Project Scope
In December 2007, M&M Executive Director Arun Nanda engaged in discussions with key government officials, including Bengal IT Minister Debesh Das, Chief Secretary Amit Kiran Deb, and Tourism Minister Manab Mukherjee. The World City project envisioned integrated units comprising distinct business and residential zones, typically requiring land areas ranging from 100 to over 3,000 acres.
Location Scouting and Project Delays
M&M broadened their search for the township project beyond Calcutta, exploring potential locations in Kalyani and Siliguri. Although the company surveyed sites in Kalyani, further progress has stalled, with no subsequent response from M&M. Known for its involvement in developing tourist destinations like Munnar, M&M continues to explore comparable locations within West Bengal. The company also conveyed interest in a hospitality project situated in New Town, Rajarhat.
Tech Mahindra's Bantala SEZ and Other Ventures
Meanwhile, Tech Mahindra, the IT arm of M&M, is progressing with the development of the Bantala SEZ on over 12 acres. In the initial 18-month phase, the project anticipates employing 2,000 individuals. Beyond IT and real estate, M&M has also formalized a memorandum of understanding with the West Bengal Tourism Development Corporation. This agreement designates M&M as a consultant to the state government, offering expertise in establishment of sustainable,eco-friendly infrastructure within the Sunderbans.