Kolkata: Tata Group chairman Ratan Tata says the failed Nano plant at Singur cost him about 500 crore rupees, but he's willing to return the land if the government compensates Tata Motors.
Addressing a press conference along with Nirupam Sen, Tata reiterated that the group would like to be compensated for the land. However, he assured that he won't abort other projects in the state.
"We have no project in the state but we will cooperate with the government for any project," said Tata, adding, "We won't stand in way of any state government project."
Addressing the conference, West Bengal Commerce and Industry Minister Nirupam Sen said that the two discussed the Tata's cancer hospital project during their meet.
Tata had earlier said he had no plans to invest in Singur, but was open to any plan from the government. "We have no plans for Singur but will cooperate with the government if they have a plan that makes sense to the government and us. We do not wish to sit on the land."
"West Bengal remains in our heart. One incident or one year does not matter in the life of a corporation," he said.
At Tata Motors' annual general meeting in Mumbai recently, Tata had said that he could return to Singur if the situation improved.
Today's declaration puts to rest recent speculation about the possibility of Tata reviving the project in future.
However, when reminded of Mamata Banerjee's demand to return the Singur land, he retorted, "But it is not her land."
It may be recalled that Tata Motors exited Singur last October after a fierce agitation by Mamata Banerjee over compensation for farmers. The company relocated the Nano project to Sanand in Gujarat. But it had already invested around Rs 1500 crore in the plant.
The overall investment was Rs 1700 crore. Much of it has been recovered. The 'sunk' cost is estimated to be about Rs 500 crore.