The Tata Group on Wednesday announced that it would set up a cancer hospital in Kolkata and make further investment in West Bengal.
"We feel that we have not done as much as we should have done in the state and are now considering and examining setting up a modern cancer treatment hospital in Kolkata," Tata Group chairman Ratan Tata told the 41st annual general meeting of Tata Tea in Kolkata.
The decision, he said, was prompted by the request of shareholders of the company to do something for West Bengal.
Tata also said that the group would retain at least three per cent 'token' stake in Haldia Petrochemicals Limited and be on the board of the company.
He said he had recently met Chief Minister Buddhadev Bhattacharejee, who wanted that the group should invest more in Kolkata. "I told him we will look at further investment in West Bengal."
Later Tata told reporters that the degree of investment was being examined. "We are looking for alliance with Tata Memorial Hospital. The whole purpose is that if cancer is detected early, it will save many lives. In the next few months, we will finalise the plan."
About the group's other investments, Tata said the chief minister had wished that the group invest in automative and automative products.
"It could be any area in which our group companies have some expertise. Wherever we invest, it has to make sense," he said. "If it makes sense to invest in automative and automative products sector, we will definitely invest."
Commenting on the group's plans about HPL, Tata said, "I have agreed to a request by the chief minister to be on the board of HPL and hold a token shareholding of three per cent."
Tata Group currently holds around 14 per cent stake in HPL.
Asked how the group would bring down the shareholding, the Tata Group chairman replied that the stake would be sold to the West Bengal government.
