India Watch : Tata Motors to return Nano land if compensated

Carole Nash Classic Insurance Specialists

KOLKATA, India (Reuters) — India’s Tata Motors Ltd. is willing to return the original site for its ultra-cheap Nano minicar if the state government compensates the company for its investment in the land, its Chairman said on Tuesday.

Tata Motors was forced to pull out of its Singur factory in West Bengal last October following violent protests by farmers who lost land. The company invested about $350 million.

“We do not wish to sit on the land for an indefinite period and we are willing to cooperate with the state government if any proposal suits us,” Ratan Tata told reporters on the sidelines of a shareholders meeting of group company Tata Tea.

“We are willing to transfer the land to the state government only if they compensate us with the investment we have made on the ground,” he said.

Ratan Tata is scheduled to meet the state’s industry minister, Nirupam Sen, on Tuesday. Tata Motors is building the Nano factory in the western state of Gujarat.

[Source: Automotive News Europe]

Clive Goldthorp

Clive claims that his interest in the BMC>MG story dates back to his childhood in the 1960s when the family’s garage premises were leased to a tenant with an Austin agency. However, back in the 1920s and 1930s, his grandmother was one of the country’s first female Garage Proprietors so cars probably run in his genes! Admits to affairs with Alfa Romeos, but has more recently owned an 06/06 MG TF 135 and then a 15/64 MG3 Style… Clive, who was AROnline’s News Editor for nearly four years, stood down from that role in order to devote more time to various Motor Racing projects but still contributes articles on as regular basis as his other commitments permit.

Be the first to comment

Leave a Reply

Your email address will not be published.


WordPress spam blocked by CleanTalk.

This site uses Akismet to reduce spam. Learn how your comment data is processed.