TATA Motors permitted to set up unit at Dharwad: Minister
UNI - DNA India
UNI - DNA India
Saturday, September 01, 2007 12:57 IST
HUBLI: Karnataka Revenue Minister Jagadish Shettar on Saturday said the TATA Motors had been given permission to set up an automotive manufacturing unit at Dharwad.
Addressing a press conference here, Shettar said the Cabinet had given a go-ahead to TATA Motors after asking them to comply with certain conditions.
The conditions were that the company had to reserve 80 per cent of both direct and indirect jobs to Kannadigas preferably from North Karnataka region and the government would withdraw the permission if the unit did not commence operations in the stipulated period.
Shettar said the company would set up its unit near the present TELCO unit at Dharwad in three phases to manufacture luxury buses, small buses and light commercial vehicles and there would no further land acquisition from farmers.
''Whatever additional land required would be given to the company from the adjoining Belur industrial estate, where KIADB has sufficient land'', he added saying there was no reason for the farmers to worry over land acquisition.
On concessions sanctioned, the Minister said a stamp duty concession to the tune of 75 per cent was accorded and Value Added Tax (VAT) was deferred for 11 years though the company requisitioned it for 18 years.
The VAT had to be paid back with One per cent interest, he added.
HUBLI: Karnataka Revenue Minister Jagadish Shettar on Saturday said the TATA Motors had been given permission to set up an automotive manufacturing unit at Dharwad.
Addressing a press conference here, Shettar said the Cabinet had given a go-ahead to TATA Motors after asking them to comply with certain conditions.
The conditions were that the company had to reserve 80 per cent of both direct and indirect jobs to Kannadigas preferably from North Karnataka region and the government would withdraw the permission if the unit did not commence operations in the stipulated period.
Shettar said the company would set up its unit near the present TELCO unit at Dharwad in three phases to manufacture luxury buses, small buses and light commercial vehicles and there would no further land acquisition from farmers.
''Whatever additional land required would be given to the company from the adjoining Belur industrial estate, where KIADB has sufficient land'', he added saying there was no reason for the farmers to worry over land acquisition.
On concessions sanctioned, the Minister said a stamp duty concession to the tune of 75 per cent was accorded and Value Added Tax (VAT) was deferred for 11 years though the company requisitioned it for 18 years.
The VAT had to be paid back with One per cent interest, he added.
1 comment:
Praveen,
I got your bog site from hublicity group. A good and well maintained site. Thanks...
Any updates on the TATA project? Have they started any construction activities. Being from Dharwad, I am curious to know. Also no news for a long time? The last was on Sept 2nd, 2007.
Raj
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