TATAS GET MORE SOPS FROM UTTARAKHAND

Dehradun: Ahead of the launch of the Nano, the much-reported Rs 1-lakh car, the Uttarakhand government has decided to give more concessions for this project by Tata Motors. The state government has allotted 1,000 acres of land at cheap rates for the automobile maker. The Nano is to be made here (the main plant is in Gujarat), in addition to mini-trucks, for now. Around 60-70 ancillary units have set up their facilities here.The government has now decided to allow Tata to sub-lease the allotted land to its vendors. In addition, the lease rent is to be slashed. We are ready to give Tata Motors the necessary permission, said a very senior officer in the state government. A high-level meeting between government and Tata officials was held this week. Tata had asked for both concessions, they wanted to retain the power of sub-lease ownership with themselves, said the senior officer. As for the lease rent, which was only Rs 5 a sq metre, it is to be slashed to just Rs 1 a sq metre. This will cost the state yearly revenue loss of Rs 1.5 crore.