Kolkata, Oct 31 (PTI) The Syama Prasad Mookerjee Port (SMPK) in Kolkata has completed a bidding process for leasing out around 20 acres of land as part of its riverfront redevelopment drive, a move expected to unlock over Rs 1,000 crore of private investment, an official said on Friday.

The initiative aims to transform the waterfront with projects ranging from commercial hubs to a Ferris wheel.

"About 10 plots have been successfully bid out, with the process for six already completed as initial lease premiums have been received. Apart from the historic Armenian warehouse won by Srijan Realty, we ensure the 30-year land lease model for the rest of the plots," SMPK Deputy Chairman Samrat Rahi told PTI.

The port expects to earn around Rs 15 crore in annual lease rent from the 20 acres of l

See Full Page