Flipkart arm to invest Rs 991 cr for logistics hub in Bengal
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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.
Questions & Answers
Q.What is the total investment Instakart Services plans to make in the West Bengal logistics hub?
What is the total investment Instakart Services plans to make in the West Bengal logistics hub?
Instakart Services intends to invest Rs 991 crore into the logistics hub. This significant investment is earmarked for establishing a large-scale facility within the Haringhata Industrial Park, aiming to enhance their operational capabilities in the region.
Q.Where in West Bengal will Instakart Services establish its new logistics hub?
Where in West Bengal will Instakart Services establish its new logistics hub?
The new logistics hub for Instakart Services will be located at the Haringhata Industrial Park in West Bengal. This site was chosen due to its beneficial road network and proximity to the airport, offering strategic logistical advantages for the company's operations.
Q.What is the expected job creation as a result of Instakart Services' new logistics hub?
What is the expected job creation as a result of Instakart Services' new logistics hub?
According to the detailed project report, the new logistics hub is expected to create 18,310 jobs. This significant employment generation is a key benefit highlighted by the Finance, Commerce and Industries Minister, Amit Mitra.
Q.How much land will Instakart Services acquire for the logistics hub and at what cost?
How much land will Instakart Services acquire for the logistics hub and at what cost?
Instakart Services will be provided with approximately 100 acres of land for its logistics hub. The cost for this land is Rs 63.49 lakh per acre, as confirmed by Minister Amit Mitra, making the company an anchor investor.
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