5 July , 2022 Fdiindia
Second Vivekananda Bridge Tollway Co in the Lookout for FDI Opportunities in Bengal’s Logistic Sector
According to an official, Mauritius-based Pacific Alliance-Stradec Group Infrastructure Company (PASGIC) controlled Second Vivekananda Bridge Tollway Company Private Limited (SVBTC) is on the lookout for further investment opportunities in the logistics sector of Bengal. He further disclosed that SVBTC is also in the phase of studying the practicality and profitability of establishing a multi-modal transport logistics hub in Dankuni, while the other related investors continue to plan and explore the scope of FDI in various other logistics and transportation-related projects in Bengal and North East region of the country.
Mauritius-based Pacific Alliance Stradec Group Infrastructure Company (PASGIC) already owns 99.99% of SVBTC which will construct the Sister Nivedita Bridge over the Hooghly River.
A statement from Anjan Roy Chowdhury, the chief executive officer of SSBTC during the celebration of the company’s 15 years of operations was opened public on July 4, 2004, further states, “We are actively considering a multi-modal transport logistics hub at Dankuni. We are now carrying out a techno-feasibility study.”
The Nivedita bridge project or also known as the Second Vivekananda Bridge brings in the largest amount of FDI in the transport sector of eastern India. SVBTC was first established in 2002 and holds on to the 30-year grant for the design, finance, build, operation and maintenance of the 6.1 km bridge. Roy also stated that the overall cost of this project was around INR 556 cr, out of which INR 400 cr was received as an FDI.
Following the results of a feasibility study, the project will now go through the second phase of its development process. This phase is comprised of outlining what's called a project roadmap which outlines essential steps needed to complete the endeavour; from blueprints, finalizing costs and revenue models, building support from the government, etc., said the CEO of SVBTC.
Dankuni is expected to experience a massive gain in cargo volume and hence, is the focus for the upcoming eastern freight corridor.
Roy further states that their objective is to provide an end-to-end logistics solution, improve railroad systems, inland waterways, and work on sea freight (all including warehousing and other concerned support), but due to the size of this project and the investments required for the same, they are now unsure on how much time could this take.
As per the state government of West Bengal, presently the logistics market of the state hold a worth of USD 20 billion and has a primary role in the increase of logistic hubs in the state while,
in 2021, World Bank, the Centre and West Bengal signed a USD 105 million project to improve inland water transportation infrastructure in Kolkata which can potentially become a great transport and logistics hub for the northeastern region.