The Hindu : Business : FAW group checks out three sites

Online edition of India's National Newspaper
Friday, Nov 07, 2008
ePaper | Mobile/PDA Version

Business

Business

FAW group checks out three sites

Indrani Dutta

The group will now conduct technical studies.

KOLKATA: First Automobile Works (FAW) Group of China is taking forward its tentative plan of investing in an automotive venture in West Bengal and has checked out three sites, including Singur. The other two locations were Haldia and Kharagpur.

“These were preliminary visits and they will now conduct their technical studies,” J. K. Saraf, Chairman of Ural India, told The Hindu.

Investment

Mr. Saraf, whose company hopes to partner FAW in this venture, said that an investment of about Rs. 1,500 crore would be required for the project which envisaged production of one lakh cars. Ural India had already signed an agreement with FAW for setting up an auto unit here. A small car with a Rs. 1.60-lakh price tag is now being discussed. Mr. Saraf along with officials of the State’s apex industry promotion agency had accompanied the FAW team. The Chinese team left on Thursday.

An official who was with the delegation said that although it was decided to put off the Singur trip, West Bengal government officials were keen to wrap up things.

“They were very keen that the Chinese team make the visit on Wednesday”, a source said.

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section