Gujarat government has
sanctioned Rs.9,500 crore to Tata Motors for developing infrastructure around
the Nano project area.
The company will get
20 years from the commencement of the project to repay the amount at an interest
rate of 0.1 per cent. The amount will be repaid by adjusting value added tax
dues of the company. The company will be using the funds to build a township and
a 'transport nagar' near the plant location in Charodi village near Sanand to
meet the logistics support needed by the project. The government had also
pledged to provide 100 acre for Tata for developing the proposed township.
Tata Motors shifted
out its Nano plant from Singur in West Bengal to Sanand due to the local unrest
over the project.
Also See:
Tata Motors to
roll out Nano by September 2009(17-Oct-08)