US Major Firms Plan to Invest in West Bengal

March 8, 2007	(Be the first to rate this story!)  Loading ...
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Two US-based companies, a real-estate firm, the Wire Group, and a pharmaceutical major, Johnson and Johnson, are planning to set up a research and development centre in Kolkata.

Wire Group is planning to develop a 500,000 square metre commercial complex in Salt Lake, just opposite the Wipro office. While, Johnson and Johnson is drawing plans to develop a clinical research and development hub in the city for clinical trials.

“The company is planning to invest $1 billion over the next two years in the country. Of this, $ 300 million will be in the form of equity and the rest will be in the form of debt” says Mark Fidelman, who is representing the Wire Group.

He is also keen to develop several commercial complexes in cities like Kolkata, Chennai, Pune and Gurgaon.

He also added that the company will develop the city property in collaboration with a partner who owns the land and is likely to come up within the next two years, where IT multinationals will have their offices.

They are also developing a one million square metre complex in Chennai and some more will also come up in the near future. The company is also looking at the possibilities of developing projects for pharmaceuticals and semiconductors.

Johnson and Johnson, which has already employed about 100 researchers in the country, expects to increase its staff to 600, over the next three years.

As Krishna, director (government affairs) of Johnson and Johnson (India) praising West Bengal, he said, the sate is turning out to be a knowledge powerhouse in the country and has tremendous potential in knowledge-based projects like research and development.

News Published Under:   Real Estate India, Real Estate Developers |

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