Governor said, "Availability of skilled human resources at competitive costs, easy access to a number of natural resources, a comfortable power position, a stable as well as enabling environment for business activity, a vast hinterland, a relatively developed infrastructure are some of the advantages for industry in West Bengal. The State has continued to be the economic hub of the eastern region of the country, and in recent years, the initiative to intensify economic interaction with neighboring countries like Nepal, Bhutan, Bangladesh and Myanmar have enhanced the traditionally important geographical location of the State.

He said, Despite the fact that the country has been passing through a recessionary phase, which has slowed down the pace of industrialisation, the State has continued to receive a number of new investment proposals. From 1991 onwards, 1,843 investment proposals for a total projected investment of Rs. 48,626 crore have been received. Out of this, 302 projects involving an investment of Rs. 7,799 crore have already gone into commercial production. In addition, around 80 projects are now under construction envisaging an investment of over Rs. 10,030 crore. The cumulative investments in the projects which have already been implemented and those which are under construction is around Rs.17,829 crore. Thus out of the total figure for all investment proposals of Rs. 48, 626 crore, actual implementation of around Rs. 17,829 crore worth of industrial ventures indicates that 36% of the proposals have been translated into reality. This is arguably the best figure for the eastern region and would compare favourably with other leading industrial States of the country.

Citing the example Dr. Kidwai said, The Rs. 5,170 crore Haldia Petrochemicals Limited, a mega industrial project which symbolises the industrial regeneration of the State, is making steady progress. More than 80% of the construction work has been completed and we are confident that the unit will commence commercial production in the last quarter of 1999. The prestigious Purified Tarephthalic Acid (PTA) Project of Mitsubishi Chemical Corporation, Japan, at an estimated cost of Rs. 1,500 crore at Haldia, is also making equally impressive progress in its implementation. This unit will go into production in February next year. These two mega projects, in conjunction with a number of smaller investments in the pipeline have already transformed Haldia into an emerging 'power house' of the State. To facilitate the fast expanding industrial activity in Haldia, there is an urgent necessity to upgrade infrastructure vis. Roads, water supply, power, housing, civic amenities etc. To this end a High Level Task Force has recently been constituted by my Government to assess the additional infrastructure requirements of Haldia and also to monitor the progress of the ongoing schemes.

Explaining the Govt's initiatives, Governor said, The State Government have always given priority to interaction with various Chambers of Commerce and Industries with a view to incorporating their suggestions to create a conductive environment for growth of business. Keeping this in view a 'Joint-National-Task-Force' has been formed with the Confederation of Indian Industry under the Chairmanship of Chief Minister. This has been done to facilitate drawing up of a concrete action plan for rapid industrialisation and to identify areas with high growth potential. This apex body is being assisted by a State-Level-Task-Force.

In his speech mentioned the Infrastructural position and possibilities of West Bengal. He said, Industrialisation is closely linked to availability of assured power. The State Government is therefore giving special emphasis not only to augmenting generation but also for ensuring effective distribution. The first unit of the Budge Budge Thermal Power Plant of the Calcutta Electric Supply Corporation is in commercial operation with full load. The Second unit (250 MW) is scheduled for commissioning very soon. The Bakreswar Thermal Power Plant (3X210 MW) of the West Bengal Power Development Corporation Limited is under execution as per schedule. First unit of the project is expected to be commissioned during the current year. Works for the Purulia Pumped Storage Project (4X225 MW) are also progressing well. Renovation works are being executed at the Durgapur Projects Limited.

He also said, In the area of development of important roads by the Public Works Department, works on the balance 17 Kms of the Durgapur Expressway is progressing well. The land acquisition process and resettlement action for the second Vivekananda Bridge has been taken up and is in progress as per schedule. Work of four laning of National Highway-2 from Barakar to Panagarh is making Progress. Widening and strengthening of 1,188 Kms of roads and construction and reconstruction of 36 bridges in the districts with financial assistance from NABARD are in progress. A few major bridges and 45 Kms of new roads have been completed during the year. A few bridges and 35 Kms of new roads will be taken up in the next financial year. Development activities of the State are largely dependent on its transport infrastructure. At present, only a small share of the passenger transport system is managed by the State Transport Undertakings. Against the pressure of decentralisation of State Transport Undertakings, my Government in the Transport Department is determined in the public interest to expand the network of State Transport Undertakings on road and water even when such operations are non-remunerative. As the sector is basically capital intensive, aprat from loan assistance under the Plan, inflow of additional funds is being arranged through commercial borrowings to improve and upgrade fleet profile and development activities.

On the tourism scenario of West Bengal Governor said, since the announcement of the West Bengal Tourism Policy, 1996, more than forty applications for allotment of land have been received from the private sector and three investors have already been allotted land in Calcutta for construction of five-star deluxe hotels. My Government has also taken major initiatives during the year for developing the Shankarpur beach and the Sundarbans as world class tourist destinations and also for attracting big private sector investments for tourism projects like development of the Teesta Barrage site in Jalpaiguri district and renovation and management of the Great Eastern Hotel.