For ailing tourism, state succumbs to FDI lure

The WBTDC has now signed an MoU with the Dubai-based infrastructure giant Emaar MGF. As per the agreement Emaar MGF— with operations in retail, commercial and hospitality sector all over India—will develop three luxury hotels in the city. The JW Marriott and Holiday Inn will be built on the EM Bypass with an investment of Rs 750 crore and the Park Hyatt at Russell Street will cost the firm Rs 550 crore. The infrastructure giant also plans to invest in residential, hospitality and healthcare projects on the Kona Expressway.

Sanjiv Rai, COO (Hospitality), Emaar MGF, said, “Tourism sector has significant potential and the opportunity in West Bengal is immense. Our company’s focus on hospitality aligns with the state government’s vision to position Bengal as a gateway to the East.” In addition to these projects, the Emaar group has already committed a whopping Rs 2,000 crore investment for the state. Rai added the company was interested in investing in the deltaic region of Sunderbans.

Sinclairs Hotels Limited, a Kolkata-based company, has already inked an MoU with WBTDC and Sunderban Infrastructure Development Corporation for a Rs 200 crore project in the state that includes a modern spa for Rs 5 crore at Sinclairs’ retreat in Chalsa, Dooars, a luxury business hotel in Kolkata, for Rs 15 crore, a resort with a golf course in north Bengal for Rs 50 crore and a Hotel Management Institute worth Rs 25 crore in Panagarh, Durgapur.

State tourism minister Manabendra Mukherjee said besides developing tourism in the state, these projects would also generate employment for locals. The projects of the Emaar MGF and the Sinclairs are expected to offer employment to 3,250 people. The government has opened Jharkhali in Sunderbans for private investments.