Reliance to redevelop Kolkata''s Park Circus municipal market
08 Jun 2007
New
Delhi: The West Bengal government has given Kolkata''s
Park Circus municipal market to Reliance Retail for re-development.
This contract, which was awarded to Reliance in the last
week of May comes soon after CPI (M) general secretary
Prakash Karat''s demand that the central government should
regulate the entry of big Indian companies in the retail
business.
The re-development contract was given to Reliance Retail by the Kolkata Municipal Corporation based on a bid made by the company in response to a global tender notice.
According to sources, once the company is done with the redevelopment, it will get space for one hypermarket, a Reliance Fresh store (the food & grocery format) and one Reliance Digital store (the consumer durable format).
This
contract will give Reliance Retail a foothold in West
Bengal. Reliance Fresh already has a store in Ranchi,
in the neighbouring state of Jharkhand, was recently ransacked
by an association of local shopkeepers and fruit and vegetable
vendors. Between West Bengal, Jharkhand and Bihar, the
company is looking at more than 25 stores by the year
end.
Reliance Retail plans to source large quantities of agricultural products from Bihar and West Bengal.
To
contain political opposition in these states, the company
plans to run a series of awareness building exercises,
mainly focused on consumers and farmers.