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(From The Times of India)
Byline: Sumali Moitra
KOLKATA: The re-development of Batanagar, announced with much fanfare by Bata Shoe Organisation chairman Thomas Bata, is likely to start by April 2005.
Calcutta Metropolitan Group (CMG) MD Sumit Dabriwal said the re-development of 262 acres - complete with housing facilities, schools, hospitals, a nine-hole golf course and an industrial estate - would be done in phases over a seven-year time-span.
The Rs 2,000-crore venture would be undertaken by a special purpose vehicle (SPV) that would have six directors on its board, three each from CMG and Bata.
"We are hopeful of the approval …