Reconsider 'Titan disinvestment plan', CPI(M) tells TN Govt

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Madurai, Jan 11 (UNI) The CPI(M), a key constituent of the ruling DMK-led Democratic Progressive Alliance (DPA), has urged the Tamil Nadu Government to reconsider its plan to disinvest its share in the profit-making Titan industries.

Addressing a public meeting at the end of the three-day 19th state-level party conference here last night, senior CPI(M) leader and Central Committee Member T K Rengarajan said "we have received authentic information about the state government's proposal to disinvest 27 per cent of its share amounting to Rs 1,500 crore in Titan industries, which is a joint venture of TATA Group and Tamil Nadu Industries Development Corporation (TIDCO). Hence, the government must clarify its stand on the disinvestment plan, he said.

The Titan Company was started at Hosur in the state with an investment of Rs 45 crore and achieved Rs 2,000 crore profit last year, Mr Rengarajan added.

UNI GSM SJ 1036

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