Gandhinagar, Oct 15 (UNI) Gujarat Government today decided to sell 1,100 acres land at Sanand, 25 kms away from the city, to set up the mother plant for the prestigious 'Nano' Car Project by the Tata Motors at a cost of Rs 400.65 crore.
This decision to sell the land to Tata Motors at a cost of Rs 900 per square metre was taken by the cabinet meeting held this morning, presided over by Chief Minister Narendra Modi.
On October 7, an MOU was signed by Tata Motors, Managing Director, Ravi Kant and Gujarat Industrial Secretary, Gouri Kumar in the presence of Mr Modi and Tata Motors Chairman Ratan Tata at Gandhinagar putting to rest all the speculations about setting up the plant, which was moved from Singur in West Bengal.
Tatas will initially invest Rs 2,000 crore for the project and will produce three lakh cars annually from the Sanand facility, which will be expanded finally up to five lakh cars per annum.
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