Modi, Tata drive Nano to its new home in 4 days

The Tatas today announced they were shifting their Rs 1-lakh Nano car project to Sanand near Ahmedabad — this was first reported by The Indian Express — after a controversial stay in Singur in West Bengal. The Tatas, who quit Singur last Friday, said they would be investing Rs 2,000 crore and would go all out to meet the deadline for the world’s cheapest car, even if it meant turning to a makeshift plant.

A Tata Motors statement said it would explore the possibility of manufacturing Nano at its existing facilities in Pune and Pantnagar and would launch the car in the last quarter (January-March) of the financial year.

“This is an extremely momentous and happy day for us because we have been through a rather sad experience from a small quarter of residents of West Bengal despite the efforts of the state government,” Tata Group chairman Ratan Tata said at a joint press conference with Chief Minister Narendra Modi.

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To clear Mamata’s block, Buddha may hike land rate

Underlining that he was committed to the reforms that he has been pushing in his state, West Bengal Chief Minister Buddhadeb Bhattacharjee indicated here today that he’s ready with an economic “package” for those farmers of Singur whose refusal to accept land compensation has put a cloud over the Tata Motors’ Nano plant.

“There are some genuine farmers who still do not want to give their land,” Bhattacharjee told members of Assocham and local chambers. “The government has a moral responsibility for them. The government is ready with a package for them and we are ready to discuss that package.”

Sources said the “package” would include enhanced financial compensation for Singur farmers. It would benefit all land losers those who have accepted their compensation cheques and those who haven’t and is said to cost an extra Rs 30-40 crore. Bhattacharjee said the government had deposited the unclaimed compensation amount estimated at about Rs 28 crore with the Calcutta High Court.

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