The Singur standoff over the Tata Nano Plant has its first repercussion on Bengal’s investment climate when a Toronto based hotel group dropped Calcutta from its investment map while scouting for properties in India.
“Calcutta does not excite us as it is a difficult destination and lacks what every foreign investor looks for- safety and security of their investment. We are now focusing on Delhi, Mumbai, Jaipur and a few other places," said Thomas W.Storey, President of Fairmont Hotels and Resorts that manages luxury properties across the globe.
The Fairmont boss said that the land controversy surrounding the Tata Nano Plant in Singur have forced them to reconsider their plan for Bengal. He was in Hyderabad to announce a 350 room five star Hotel for the city in collaboration with the Maheswari Group.
Girish Malpani, CEO of Maheswari Group said, “The negative publicity over Singur has dissuaded many foreign investors.”
Fairmont operates 56 properties in 19 countries and is developing 20 more in Abu Dhabi, Shanghai, and the Anguilla Islands.