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The West Bengal government is holding discussions with the Tata group to explore fresh investments in the state, Industry Minister Tapas Roy said. The discussions are focused on sectors beyond automobiles, including the possibility of expanding the group's existing businesses or setting up new units. Tata Motors had withdrawn its Nano project from Singur in 2008 following prolonged protests over land acquisition and shifted it to Sanand in Gujarat. The state also faces a liability arising from an arbitral award of INR 765.78 crore, along with interest, related to Tata Motors' withdrawal from the project.
The West Bengal government is in discussions with the Tata group to explore fresh investments in the state, Industry Minister Tapas Roy said. The discussions are not limited to the automobile sector. The Tata group already has a presence in West Bengal across sectors such as IT services, metals, hospitality and retail. The state government is exploring whether the group could expand these businesses or establish new units.
Tata Motors had withdrawn its Nano car project from Singur in October 2008 and shifted it to Sanand in Gujarat following prolonged protests against land acquisition led by TMC supremo Mamata Banerjee.
Roy said the government was in touch with the Tata group and discussions were continuing on bringing new investments to West Bengal.
On the payment of the arbitral award and interest to Tata Motors by the West Bengal Industrial Development Corporation (WBIDC), Roy declined to comment, saying the state needed to consider the matter.
An arbitral tribunal had awarded Tata Motors INR 765.78 crore, along with interest at 11 per cent per annum, in connection with the company's withdrawal from the Singur project.
Roy said the previous TMC government had left the liability of paying the award and interest with the BJP government. He declined to comment on how the state government planned to make the payment.
The WBIDC had challenged the arbitral award before the Calcutta High Court in February this year while the TMC was in power.
Source PTI
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