Hope to sort issue of dues with TN soon: Nissan prez

The Renault-Nissan Alliance has said it was hopeful of sorting the issue of non-payment of Rs 2,900 crore worth of incentives and value-added tax (VAT) promised by Tamil Nadu earlier.

Guillaume Sicard, president, Nissan India, said he was optimistic the issue would be sorted and said the Alliance would not look for investments at other Indian states, except for Tamil Nadu.

"We have a good relationship with the state government and they are supportive. We need to finetune a few things, but I am not worried. We should be able to solve the issue. We will keep investing in Tamil Nadu," said Sicard.

Recent reports had suggested delays could lead to the company dropping its plans of investing an additional Rs 5,000 crore-apart from the Rs 6,200 crore it has already invested-in the state. The Alliance had committed to invest Rs 4,700 crore over seven years when it signed a deal with the state in 2007. It surpassed the amount it planned to invest