The fate of the proposed Rs 2,000- crore Kulpi marine cluster in West Bengal will depend on the forthcoming state maritime policy, according to an official of Apeejay Surrendra Group, which is developing the project.
"We are waiting for the state maritime policy and then would go for development. It will have lot of impact on the project," Apeejay Surendra Group chairman Karan Paul said here today on the sidelines of a stakeholders' meeting on maritime policy.
The West Bengal government is preparing a maritime policy and the draft has already been submitted by technical advisor Crisil. The state had passed the West Bengal Maritime Act a few years ago and a Maritime Board is already in place with six members.
The state with a coast line and shore line of 158 km aims for optimal use towards industrial development and employment creation.
The board will frame policies to attract investment in development of maritime infrastructure in the state and promote investment environment with improved infrastructure in this sector.
"We already have 550 acres of land", Paul said.
Bengal Shipyard, a joint venture between Apeejay Surrendra Group and Bharati Shipyard, will build the project. In 2012, the JV decided to restructure the project into marine industrial cluster.
The cluster will include shipbuilding, repair, steel fabrication, unloading and loading facilities, logistics and ancillary.
Apeejay Surrendra is the principal shareholder in the SPV and will decide on the project.
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