Evaluating investment opportunities: Tata Sons responds to Gadkari letter

Amid Maharashtra losing many big-ticket projects to neighbouring Gujarat, Tata Sons Chairman N. Chandrasekaran has responded to Union Road Transport Minister's Nitin Gadkari's letter seeking investments from the Tata Group in and around the state's Nagpur.

In the letter, Chandrasekaran has said that teams will be in touch with the Vidarbha Economic Development (VED) Council members "as we evaluate new investment opportunities across the group".

"I have gone through the information in your letter about the various business opportunities in Nagpur for the Tata Group. I have also noted the availability of both SEZ and non SEZ land in areas which are well connected via road, rail and airways," said the letter written on October 19.

"Our teams will definitely be in touch with the Vidarbha Economic Development (VED) Council members as we evaluate new investment opportunities across the group. I look forward meeting you," it said.

On October 7, citing strengths like infrastructure, land availability and connectivity, the Union Minister had written a letter and sought investments from the Tata Group in and around Nagpur.

Recently, Gujarat has bagged many big projects including over Rs 1.5 lakh crore investment from Foxconn-Vedanta on chip manufacturing and nearly Rs 22,000 crore aircraft manufacturing project by Tata-Airbus.

The ruling BJP has faced criticism after Gujarat - where Assembly polls are approaching - walked away with at least two mega projects in the recent months.

Opposition parties have blamed the Eknath Shinde-led Maharashtra government as the big ticket projects went to Gujarat.

"Another project! I have voiced this since July, asking Khoke Sarkar to try for it (Tata Airbus). I wonder why every project is going to other states in the last 3 months. Loss of faith in khoke sarkar is evident on industry level. Will the industry minister resign after losing 4 projects?" Shiv Sena-UBT leader Aaditya Thackeray tweeted on October 27.

In one of the biggest corporate investments, a joint venture of Vedanta and Foxconn had on September 14 signed a Memorandum of Understanding (MoU) with the Gujarat government to invest over Rs 1.5 lakh crore to set up the semiconductor plant in the state.

--IANS

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