`An added impetus to the growth of local industry'
KOLKATA: The acquisition of the Anglo-Dutch steel company, Corus, by Tata Steel is an important development for industry in India, Chief Minister Buddhadeb Bhattacharjee said here on Friday.
The move only goes to indicate that Indian industry is gaining strength in the world economy and this will only be an added impetus to the growth of local industry, Mr. Bhattacharjee said in reaction to the takeover deal earlier announced in London.
The Tata group is all set to play a major role in the West Bengal Government's plans for greater industrialisation in the State. The first automobile manufacturing plant in the State is proposed to be set up by Tata Motors at a cost of about Rs. 1,000 crore at Singur in Hooghly district. Mr. Bhattacharjee's Government is facing criticism from most Opposition parties over the issue of land acquisition for the project, but the Chief Minister has expressed his determination to ensure that the plant is set up on time for the first cars to roll out of the plant in 2008 to which Tata Motors is committed.
At present the major investments of the Tata group in the State include the Hooghly Metcoke plant in Haldia, the Tata Metaliks pig iron plant in Kharagpur and Tata Bearings in the same town.