Tata gets soft deal on Singur Nano project

SOFT DEAL: West Bengal has given a soft deal to Tata motors for their Nano project site in Singur.

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Kolkata: The Tatas have got a soft deal from the West Bengal government for the Nano plant.

The Tatas have been given 645 acres of land on a 90 year lease.

The rent for the first five years is Rs 1crore per year

However, this rent will be hiked by 25 per cent each year for the next 15 years.

From 20 to 50 years, the rent will be Rs 20 crore yearly. There is no one time down payment.

Tata motors has been given a soft loan of Rs 200 crore at one per cent interest.

In the meanwhile, West Bengal CPI-M secretary Biman Bose dismissed Chief Minister Buddhadeb Bhattacharjee's statement that CPI-M still uses strikes and bandha as effective political tools.

Bhattacharjee had spoken against the CPI-M and in favour of the industrialists in Kolkata on Tuesday. He had even added that his colleagues in Delhi, that was a reference to the party central leadership, were also changing and that dogma will not work anymore.