Business Daily from THE HINDU group of publications
Saturday, June 28, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Saturday, June 28, 2008 ePaper | Mobile/PDA Version |
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Update at 1900 hrs (IST)
Corporate Tata plans Nano roll out by Durga Puja KOLKATA: Tata Motors said on Saturday that it’s ambitious Nano project was facing cost overrun but maintained the Rs 1 lakh car could be rolled out from its Singur facility by Durga Puja. The company’s Managing Director Mr Ravi Kant, who met the West Bengal Chief Minister Mr Buddhadev Bhattacharjee at Writers' Buildings here, told reporters that the entire project had been reworked at the plant site at Singur due to floods last year which had led to the cost escalation. “We have already sunk in Rs 2000 crore”', Mr Kant said, adding earlier the project cost was pegged at Rs 1700 crore. Stating that Tata Motors was fully committed to the Singur project, Mr Kant said if everything went well as planned, then the Nano car would be rolled out from the plant during Durga Puja. “We hope to start trial production during July or August” he said. Asked whether there was a possibility of Nano being rolled out from any other plant of Tata Motors, Mr Kant said, “Nano will be produced out of West Bengal”. Mr Ravi Kant had visited the Singur plant yesterday to review progress and held long discussions with suppliers and vendors. Global interest: Tata Motors said its ambitious small car Nano is seeing a huge global interest with enquiries pouring up for setting up plants from US, Latin America, Europe and South East Asia. “Nano has received enquiries for setting up plants and distribution networks from countries from US, Latin America, Europe and South East Asia”, said the company Managing Director Mr Ravi Kant here. The Nano had become a hit at the Geneva Motors Show this year, with many global firms showing their admiration for the Tatas to come up with a cost effective product. Mr Kant had earlier stated that while the company's focus would remain the domestic market for the first couple of years, Tata Motors was keen to take the car to Africa and Latin America. - PTI
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