KOLKATA: The port and SEZ are being promoted through a joint venture by the state government that will hold only a small stake in the SEZ venture. The SEZ, to come up on a 4,400-acre land, will have three partners -- the state government, P&O and the private firm Bengal Ports. While the government will hold 11 percent through the West Bengal Industrial Development Corporation (WBIDC), its nodal agency for industrialisation, P&O will own 51 percent and the rest will belong to Bengal Ports. According to official sources, it was resolved at a meeting between chief secretary Sourin Roy and promoters of the two private companies that the private partners will have to arrange land for the SEZ. However, the government has promised administrative help in acquiring land. The government and the private firms are hoping to raise a loan from ICICI Bank for the SEZ, the sources said. The state government has undertaken an ambitious programme for development of both private and state-owned ports, and a maritime board will explore the state's potential in the field. The maritime board, which would be entrusted with the responsibility of building small ports, would also work as the supervisory body for such ports. The P&O-promoted port will come up at Kulpi in South 24 Parganas so that it is easily accessible from the SEZ in the same district. Earlier, the government had tried to promote Kulpi port by itself but had to back out owing to fund constraints. The 189-year-old Kolkata port's domination in the east would be challenged once the Kulpi port is in place. The government will build another port by the historical town of Tamluk, which boasted of one of the leading harbours of ancient India, with financial assistance from Japan. A Japanese delegation recently visited Tamluk in Midnapore district. Earlier, the Tata group was to help in developing the Tamluk port, but eventually the deal fell through because of some conditions imposed by the industrial group. Questions have been raised about the feasibility of the mini port at Tamluk in spite of the bigger Haldia port in the area. The proposed Kulpi port apparently also overshadows the need for the Tamluk venture.
Source: IANS