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Flipkart arm to invest Rs 991 cr for logistics hub in Bengal

Thursday, October 11, 2018
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Instakart Services, a part of the online e-commerce major Flipkart, is set to invest Rs 991 crore for setting up a logistics hub in West Bengal, a Minister said on Wednesday.

"The company proposes to invest Rs 991 crore for setting up a logistic park at our Haringhata Industrial park which has road network advantage and is near the airport. According to the detailed project report, it will provide 18,310 jobs," Finance, Commerce and Industries Minister Amit Mitra said.

West Bengal Industrial Development Corporation (WBIDC), in its board meet on Wednesday approved in principle the company's proposal, which will now go to the Cabinet standing committee for its nod, he said.

The state government has about 358 acres of land at an industrial park, of which the company will be provided around 100 acres at Rs 63.49 lakh per acre, Mitra said adding that it will act an as anchor investor in the park.

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Source: IANS
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