GIC Singapore scouts for more opportunities in West Bengal

GIC Singapore, the sovereign wealth fund of the island nation, is trying to scout for more opportunities in West Bengal.
"After investing USD 32.5 million in Kolkata Riverside, a 262-acre township, the fund is looking for more opportunities here," Bengal Finance Minister Amit Mitra told PTI.
The GIC-invested PE fund, sponsored by HDFC Property and domiciled in Singapore, had signed a USD 32.5 million (Rs 200 crore) agreement with Hiland Group during the Bengal Summit in January this year for Kolkata Riverside development.
Mitra said GIC, owner of one of the world's largest funds, was very enthusiastic about development of the state and is keen to participate more actively.

"They have indicated that they were negotiating with a few others for further investment," Mitra said.
No further details were provided by Mitra.

Kolkata Riverside is a 262-acre township which is building a medical college and a corporate hospital, a school, a cricket and football academy, a film city, other social infrastructure, along with residential facilities that could witness a total investment of approximately USD 1 billion in West Bengal.
Singapore's other entities had been active in real estate sector in the state.
PWC Singapore senior partner Abhijit Ghosh has said that the Asia Pacific country was capable of associating with India for developing smart cities.

The West Bengal government has also indicated that it will facilitate for six smart cities in the state.