India’s biggest truckmaker, abandoned its newly built factory for the world’s cheapest car because of violent protests by farmers, hampering plans to start selling the $2,500 vehicle this year.
Tata Motors will move equipment and machinery from Singur in West Bengal state to a new location to be decided later, Chairman Ratan Tata told reporters in Kolkata yesterday. The company has yet to evaluate how much of the 15 billion rupees ($319 million) invested in the project will be lost, he said.
You cannot run a plant with police protection, you cannot run a plant when bombs are being thrown, you cannot run a plant when workers are being intimidated
He absolved the West Bengal government and indirectly flayed Trinamool Congress chief Mamata Banerjee, who leads the agitation against the car factory in Singur.
“We appreciate the government’s investor-friendly approach but our decision to leave has been prompted by those opposing the project. We do not see any change on the horizon,” said Tata.
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Source: Bloomberg, IBNLive, Economic Times, Indian Express
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