Post the transaction, Tata Motors will own 40 per cent stake in Telcon, while Hitachi will have 60 per cent, the company said.
It was the summer of 2006 (May 18). Writers' Building, then the state secretariat, was buzzing with journalists. The event marked the start of Buddhadeb Bhattacharjee's second term as chief minister. And in style, it got off with West Bengal bagging the small car plant, Nano.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
The land acquisition in Khargpur would start from December as Tata wants to start the project from January. Besides, Telcon, the state government has also completed the acquisition of land for Tata Metaliks project in Khargpur.
Packaging major Essel Propack on Tuesday said it has acquired the United Kingdom -based Telcon Packaging.
The total investment - by Tata Motors and its vendors - in the Rs 1 lakh car project is Rs 3,700 crore (Rs 37 billion). The West Bengal government on Thursday disclosed that the investment in the vendor park would be around Rs 2,200 crore (Rs 22 billion).
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