West Bengal Chief Minister Suvendu Adhikari on Thursday announced that preliminary talks are underway with Ashok Leyland for setting up a heavy vehicle manufacturing unit in Singur, as he unveiled the state's new Investment Promotion Policy in New Town, Kolkata. "We will certainly do something in Singur. We have held preliminary talks with a reputed commercial heavy vehicle manufacturer, Ashok Leyland," Adhikari said.

Source: TradingView News (Moodys/IANS report)

Adhikari ruled out both the Left Front's policy of forcible land acquisition and the Trinamool Congress approach of letting industries buy land without government support. "We are making arrangements to buy land for creating a land bank for industries," he said, promising instead that the government would purchase land itself. Reports said discussions are under way with HUDCO, NABARD and the Asian Development Bank for funds to buy land for industrial use.

Source: PTI via Kalimpong Online News

The Chief Minister said the state was well-positioned to facilitate fresh investments of around Rs 1 lakh crore in the coming months, citing land availability and several projects in the pipeline, though he acknowledged that the government was currently unable to clear an accumulated incentive backlog of nearly Rs 50,000 crore. The new policy seeks to attract fresh investment and generate employment, offering higher assistance to units in thrust sectors and priority areas and promising fixed timelines for approvals and payments.

Source: PTI via Kalimpong Online News

Rs 1 lakh croreFresh investment Adhikari cited as in pipeline
Rs 50,000 croreAccumulated incentive backlog acknowledged
34 pagesLength of new investment policy, in three languages

Singur carries a particular weight in Bengal's industrial history: it was the site of the Tata Nano project, which was abandoned in 2008 after a major anti-land-acquisition movement. Urban Acres reported that the 34-page policy document itself does not contain a specific section on land, so the proposed land-purchase mechanism will have to be established through subsequent government action, and the Ashok Leyland talks remain preliminary at this stage.

Source: Urban Acres