http://economictimes.indiatimes.com/Mamata_to_blame_for_Nano_pullout_Ratan_T ata/articleshow/3557205.cms http://economictimes.indiatimes.com/Tata_Motors_exits_from_Singur/articlesho w/3557123.cms KOLKATA: Tata Motors on Friday decided to exit Singur in West Bengal. The decision came after Tata Group Chairman Ratan Tata met West Bengal Chief Minister Buddhadeb Bhattacharjee in the state secretariat.
Ratan Tata was accompanied at the talks by Tata Motors' managing director Ravi Kant. The Tatas are exploring other options for the site. Tata officials have reportedly already met Chief MInisters of the states of Karnataka and Gujarat for the Nano plant. It is expected that they will zero in on an alternate site by next week. The Trinamool Congress blamed the West bengal chief minsiter for the pullout of the Tatas from West bengal. Work at the Singur project to roll out the world's cheapest car has been stalled since Sep 2 following an agitation by a section of the farmers over land acquired for the plant. Tata Motors has kept work at the site suspended since then and reports are that the auto major is scouting for possible sites in other states to set up the plant. Tata Motors, the third-biggest carmaker in India, had planned to make 250,000 cars at the Singur plant in West Bengal initially, increasing capacity to 350,000 units. Eventual demand for the Nano was expected to be about 1 million units, Tata has said. Cost overruns caused by delays at Singur, where Tata Motors has invested about $350 million, had already raised the cost of production of the Nano, which was unveiled to a rousing reception in January and sent rivals scrambling for their own plans. Work at the plant was nearly complete when farmers, backed by the state's main opposition party, stepped up protests, saying they were forced off their land without adequate compensation. The dispute, which came on the heels of similar protests in other states, reflects a larger standoff between industry and farmers unwilling to surrender land in a country where two-thirds of the population depends on agriculture for a living. Regards Admin <http://www.streettalk.in/> www.StreetTalk.in (RSS feed: <http://streettalk.in/streettalk.rss.php> http://streettalk.in/streettalk.rss.php) Latest trading calls on http://streettalk.in/main.php?section=call_listall (go and discuss and vote for the best!) Latest research reports on http://streettalk.in/main.php?section=files --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
