Tata Steels TN project stuck on land issue
-
20/04/2008
-
Business Line (New Delhi)
The Tatas have shut down their offices in Tirunelveli and Sattankulam earlier this year and stopped any attempt to buy land, say company officials. The Rs 2,500-crore Tata Steel titanium dioxide project has been stalled with the Tatas giving up trying to buy land for the project in Tamil Nadu. According to company officials, the Tatas have shut down their offices in Tirunelveli and Sattankulam earlier this year and stopped all attempts to buy land. In the last one year, against an estimated 9,829 acres needed for the project the company has been able to get 25 acres. Unless the Government intervenes in land purchase, it would be an impossible task, feels Tata Steel. The company hopes to make a representation to the Government later this month to support it in buying land. The company spokesperson said the constraints are the legal hassles involved and the arbitrary hike in land prices by middlemen. The main hassle in land purchase is the lack of clarity in legal documents, absence of parent documents and the