The Hindu : Front Page : Tata Steel to set up titanium dioxide project in Tuticorin

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Friday, Jun 29, 2007
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Tata Steel to set up titanium dioxide project in Tuticorin

Special Correspondent

Memorandum of Understanding signed to revive 2002 proposal

— Photo: V. Ganesan

DEAL FINALISED: Tata Sons Chairman Ratan Tata and Industries Secretary Shaktikanta Das exchange documents after signing an MoU in the presence of Chief Minister M. Karunanidhi in Chennai.

CHENNAI: Tata Steel on Thursday signed a Memorandum of Understanding with the Tamil Nadu Government to revive its proposal to set up a titanium dioxide project in Tuticorin.

The project outlay is about Rs.2,500 crore, Tata Sons Chairman Ratan Tata told presspersons later. “This is a significant project for the Tatas in Tamil Nadu.”

It would provide direct employment to about 1,000 people. The Tatas would also be involved in many social welfare activities in the area, he said.

A release issued later said that since the project was in a rain shadow area, the Tatas would build a seawater desalination plant coupled with a power plant.

“Most people think that Tatas have very little presence in Tamil Nadu,” he said. “But actually Tamil Nadu has the highest percentage of high skilled people of the Tata group in India… in TCS [Tata Consultancy Services]…If you take all the Tata group we have got about 15,000 people here,” he said and added that he had assured the Chief Minister that the Tata group would look at investment opportunities in Tamil Nadu in areas such as power.

The Tatas had signed an MoU for setting up the project in 2002.

But nothing much happened after that, said B.Muthuraman, Managing Director, Tata Steel.

Feasibility study

The feasibility study had already been carried out. “We are ready to start tomorrow,” he said when asked when the work on the project would commence. He added that the Government had agreed to help in the land acquisition process.

Industries Secretary Shaktikanta Das and Mr.Muthuraman signed the MoU in the presence of Chief Minister M. Karunanidhi and Mr.Tata.According to the MoU, Tata Steel will complete the project in stages.

It will compensate people who give their lands for the project based on the State Government’s policy. A Government release said that the Tatas would provide jobs on a priority basis to people who give their lands. It would also impart skill training for members in their families.

The Government will provide a four-lane road from the Tuticorin Port to the site as part of infrastructure development project.

A release said that Tata Steel was open to offering equity stake to other group companies and technology providers and State Government undertakings in the venture.

The MoU also said that the Government would “extend full support” to implement the project expeditiously. The project involves mining, mineral separation and value addition to synthetic rutile and titanium pigment.

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