Tata Motors to invest Rs 350 crore in UP

Lucknow, May 24; Indian automobile behemoth Tata Motors today announced to invest about Rs 350 crore in Uttar Pradesh.

This would create direct/indirect employment opportunities for about 5,000 people in UP.

In this regard, Tata Motors Managing Director Ravikant -- heading a six-member delegation -- met state chief minister Mulayam Singh Yadav at his official residence here.

He told newspersons that the company was keen on expanding its industrial activities in the automobile industry in the state.

The Tata Motors MD underlined that industrialists of national and international repute should invest in UP and set up units here to grow faster.

Meanwhile, he informed the Tata Group would introduce its Rs one lakh car developed on indigenous technology by 2008.

Mr Ravikant also thanked the CM for liberalisation in industrial policy and creating a better work atmosphere in the state, ''which is conducive for industrial development.'' He invited Mr Yadav to visit the Tata Motors' unit at Pune (Maharashtra).

Terming the expansion plan of Tata Motors as a major achievement of his government, Mr Yadav said he favoured encouragement of local industrialists instead of foreign companies.

He said sturdy and fuel-efficient vehicles produced by Tata Motors would conform to the requirements of rural markets.

''The ancillary units to be set up along with the Tata Motor unit will also be provided land and other necessary facilities.''

''Tata Group will like to use the resources available in UP for developing a few excellent quality low cost passenger and freight vehicles,'' Mr Ravikant added. He hoped other industrial groups also came to UP to take advantage of the pro-industry policies. Besides, he appreciated the decisions of UP government and hailed the approach of its officials.

The CM maintained if foreign companies consulted their Indian counterparts before setting up units here, they would also be encouraged.

Earlier, the CM observed that Tata Group had its own unique work culture and appreciated Tata's chemical plant at Babrala.

He, however, suggested the pace of power generation plant, which is being set up at Chaula (Bulandshahr), should be accelerated.

The CM reiterated he would root out corruption, take austerity measures and make efforts to create better work culture, so that national level industrialists were encouraged to come to UP.

Mr Yadav said the liberal policies of UP Development Council (UPDC) would encourage other industrialist as well and they would come to UP to set up their units.

''World Bank Country Director Michael Carter has also appreciated the development pattern followed by UP,'' he pointed out.

Yesterday, Mr Carter had called upon the CM and assured to consider providing Rs 5,000 crore financial assistance for irrigation projects in UP.

UNI