Tatas to rollout Nano by Oct, Singur exit likely

Here is a transcript of Swati Khandelwal 's comments on CNBC-TV18. Also see the accompanying video.

The Tatas and West Bengal government believe that the Singur project will not take off, reports CNBC-TV18, quoting sources. The Tatas have started removing equipment plant parts ten days back, it was further stated.

Sources have also said that it's a long process and it will take some time. They added that the Tatas will begin pulling out Singur in the next few days. The Pant Nagar plant will roll out 1000 Nanos by mid-October. The front runners for the mother plant include Karnataka, Haryana and Maharashtra.

Tata Motors will produce 100 Nanos per day from Pantnagar starting in October. The Nano engines, gearbox will be supplied from Chikhli in Pune to Pantnagar. Further ramp up at Pantnagar will begin from January 2009.

 

Tata Motors may make a formal announcement next week wherein they will talk about pulling Nano out of Singur. The company has suspended work for a long time now.   

CNBC-TV18 Disclaimer:

This information is source-based and has not been provided to the stock exchanges.