Bright group to invest ₹100 crin projects in Kolkata.

Kolkata-based Bright Group, a not for profit trust, is looking to invest ₹100 crore to set up a housing project, B.Ed college, pharmacy college and diagnostic centre, high school and a water treatment plant.

All the projects will come up in Baruipur, some 30km on the southern fringes of Kolkata, according to Bodhisattva Banerjee, CEO and Managing Trustee, Bright Foundation. Around 16 acres have already been acquired for the projects.

The trust runs the GMIT engineering college and clocks an annual turnover of ₹15 crore.

“The projects should materialise by 2018-end or early-2019 depending on how fast we can obtain the clearances from the State government,” Banerjee said. According to him, while ₹30 crore will be spent from internal accruals, another ₹30 crore line of credit from banks has already been arranged.

HBL