Tata seeks to ‘retrieve’ Singur investment -
September 28th, 2008
Tata seeks to ‘retrieve’ Singur investment
HYDERABAD: A letter from Ratan Tata’s office appreciating the gesture of Andhra Pradesh to offer 1,000 acres to set up the Nano plant shows the group is looking to recover some of the costs it incurred in Singur from wherever it sets up another facility.
“The letter briefly mentions about over Rs 500-crore investment the group had already made in Singur. In addition to finalising the location, the group is also keen on recovering at least a part of the investment that has already gone into the facility at Singur,” an Andhra government official said.
“Like any other state, we, too, are waiting for some positive response from the company. Nothing can be said about the outcome at this point of time,” AP industry secretary B Sam Bob told DNA Money.
“It seems Ratan Tata is travelling till October 3. We hope to hear something on the proposal after that,” Sam Bob said.
“We are offering them three locations - Visakhapatnam, Naidupet and the port complex being developed by Vanpic Ports at Vadarevu and Nizampatnam on the coast,” Sam Bob said.