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Our Bureau

Kolkata, Aug. 22 Tata Motors today informed the Calcutta High Court that it would pay West Bengal Industrial Development Corporation (WBIDC) an amount in the region of Rs 1,000 crore in a phased manner for the Singur land lease of 90 years for its small car project.

Stating that the land in Singur for the project was not gifted to the Tatas, WBIDC counsel, Mr S. Pal, produced before the court the deed of lease executed between WBIDC and Tata Motors Ltd, indicating the premium and rent that Tata motors would have to pay on different slabs of increase.

Submitting before the Chief Justice Mr S S Nijjar and Justice Mr P C Ghose on a PIL challenging the acquisition of land at Singur for the project, Mr Pal said while the West Bengal Government was paying Rs 118 crore as compensation for 997 acre acquired at Singur for the project and ancillary industries, Tatas would be paying a much higher amount.

For the first five years, Tata Motors would have to pay Rs 1 crore per annum while in the next 10 years, it would pay Rs 10 crore per annum. In the next 30 years, it would pay Rs 20 crore per annum.

More Stories on : Cars | New Projects | Tata Motors Ltd | Real Estate & Construction | West Bengal

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