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Translation of a news item in Ananda Bazar Patrika dated 13th
June, 2001
The
West Bengal Government is considering entering into a joint
venture for the Formula-One car-racing project at Rajarhat in
order to see that the project becomes a reality. The Chief
Minister has himself directed that the possibility of the state
government’s participation in a joint venture for the
Formula-One car-racing project should be examined in detail. For
this purpose, a committee has been constituted under the
leadership of Manish Gupta, Chief-Secretary. The committee is to
submit its report within a month’s time. Other than Amit Kiran
Deb, Secretary to Chief Minister, the committee includes the
Sports Secretary as a member. Also included are two
representatives of the promoters of the project.
The
state government has taken this extra-ordinary step due to a
sudden an unexpected obstacle faced by the project in spite of
the fact that a memorandum of understanding (MOU) had already
been signed two years ago for completion of the project. In
fact, even a few years back, it was unimaginable that the Left
Front government would be considering a joint-venture
participation in a project like Formula-One car racing. However,
the government is not willing to lose the opportunity for
industrialisation and investments taking place in the state.
An
international tobacco company was to be the main sponsors of the
Rupees 700 crore (Rupees 7000 million) project, but due to a ban
on sponsorship of sporting events by companies manufacturing
cigarettes, there were uncertainties in the realisation of the
project. This was in spite of the fact that the state government
had already allotted land and made other preparations for the
project. The construction of the Formula-One track alone would
be costing Rupees 350 crore (Rupees 3500 million).
The
state government, as a partner in the joint venture, will be
making a major contribution towards the project by way of
allotment of land, construction of road between the airport and
the stadium as also arrangements for supply of electricity and
water. The total cost of this is estimated to be Rupees 100
crore (Rupees 1000 million).
According
to the state government, they are examining the possibility of a
joint venture in order to ensure that the project becomes a
reality. This is because of the fact that once the project is
completed, the whole of West Bengal will be on the map of
international tourism. Investment interest in the state is also
likely to increase
once this project comes through.
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