Token investment for Bengal from M&M

Automotive major Mahindra & Mahindra after raising land issue for industry before the West Bengal Chief Minister Mamata Banerjee today said it lined up a token investment proposal of Rs 150-200 crore in the state.
"We are planning to have a regional distribution centre at Kharagpur that would entail an investemnt of Rs 150-200 crore," Mahindra & Mahindra executive director Pawan Goenka.
The regional distribution centre will help better distribution and logistics management for the Rs 2000 crore spare parts business it does in this part of the country.
The centre will require only a few acres of land (10-15 acres)

Currently, no person can hold more than 24 acres in the state. An investor with more than 24 acres has to apply to the government under section 14Y of the Act urging it to raise the ceiling.
The government then vests the land above 24 acres and returns the excess land to the person for industrial and commercial use. The government now becomes the owner of the ceiling surplus land and the purchaser a lessee.
Asked whether Mahindra was planning any major investment that would require large track of land, Goenka said, the company do not have any automotive making plan in Bengal at least for the next 5-6 years but he asked on behalf of the industry.

Adding further about the regional distribution centre, he said it would take 18-24 months to complete it.