CII becomes handhold agency for Asansol theme township project.

CII recently became the handhold agency to assist the state government to develop the theme based township at Asansol. The government is going to float e-auctions very soon for the six proposed theme townships to be developed on government land, including the Asansol project proposed on about 59 acre of land.

State urban development secretary Debashis Sen said that the proposed theme township at Asansol, named as Agnibina with a theme of industry will be developed with CII who has agreed to become the handhold agency for the project. Pallavi Kaul, chairperson, West Bengal State Council and MD Nicco Ventures Ltd. and Subhash Sethi, Chairman, Infrastructure Subcommittee, CII Eastern Region and Chairman SPML Infra were also present in the meeting.

It came out in the meeting that an internal rate of return (IRR) of 16-25% was being expected from this proposed township project in Asansol and that a global Floor area ratio will be made available. It was placed before CII that one of the biggest advantage for investors in this project was that they have ready land with no encroachment and that the state government will assist in every step. A UN report was also placed in the meeting that said that Asansol was among the fastest growing cities in the country with seamless connectivity with the rest of the country through railway network and roads.


TOI