Tata likely to revise Singur land lease
Tata Nano and Bengal it believes have a karmic connection as it is greatly rumoured that Tata Motors may again take a U turn. The company is looking forward to extend the land lease for one more year. If the lease will be renewed it will mean that the Indian auto company may have to talk in terms with the new government.
Earlier, the auto company was thrown out by Mamata Banerjee due to political issues. As per a top executive of Tata Nano ancillary unit, the auto mobile giant is likely to revise the land lease in Singur for a year. However, the Indian auto mobile marker is tight lipped about the land lease.
It is being known that the auto company has already taken the decision to revise the land lease. The company will do away the formalities with West Bengal Industrial Development Corporation (WBIDC). As per a New Delhi based ancillary component suppliers for Tata Nano, talks have been held with Tata Motors. According to a automobile engineer in Pune who was along with Tata officials during their visit in Singur ushered that Tata will soon take a final decision once everything falls in place. The Indian auto company can negotiate with the new Bengal government for the compensation. As per the reports some of the units have prepared other projects which may be discussed soon.
The insiders reveal that some of the ancillary units have paid for the land lease renewal. However, Subrata Gupta Managing Director at WBIDC was not ready to comment on the same.
WBIDC owns 997-acre of land taken for the small car project. As per the agreement, Tata Motors have to give away Rs 1 crore yearly to WBIDC for the initial five years in the 90 year of the agreement. The land lease has to be revised yearly and the revised date is 15th March for the present year. However, a leverage of 40 days was given. Lumax, Caparo Engineering and Supreme Treves are few of the biggies interested in Singur location due to its location. It was reported by top officials.
Read More on : Tata Nano price