The Tata Group has sought early clearances for its investment proposals in Karnataka. The salt-to-software giant plans to make massive investments in the state through its group of companies, including the proposed 100-acre Tata Consultancy Services campus near Bangalore. A team of senior Tata Group officials led by Tata Steel vice chairman B Muthuraman on Tuesday met Chief Minister B S Yeddyurappa and his cabinet colleagues to discuss the progress of various investment proposals of the group. The meeting was attended by Large and Medium Industries Minister Murugesh R Nirani, Water Resources Minister Basavaraj Bommai, chief secretary S V Ranganath and principal secretary, department of commerce and Industry, V P Baligar.
Baligar told reporters that TCS had approached the state government to seek 100 acres for setting up its largest campus at the IT park in Devanahalli on the outskirts of the city. “It will be one of the biggest campuses of TCS in India,” he said. The chief minister has assured them about the land allotment.
Land acquisition for Tata Metaliks’ Rs 15,000 crore, three million tonnes per annum steel plant in Haveri is progressing smoothly, said Baligar.
Tata Consulting Engineers (TCE) will be allotted five acres for its project, while the Group’s hotel business plans to set up two “Ginger” brand hotels in Belgaum and Hubli. Tata Housing has approached the government with proposals and expects to get land in any of the industrial areas. Tata Power has participated in the bidding process of the Bidadi combined cycle power project.
Tata Elxsi, product design and IT services firm, has also planned to expand its campus in Bangalore. Tata Realty is one of the bidders for the proposed monorail and high-speed rail link projects in the city, besides development of national highway and state highways, said Baligar.
Talking about various Tata Group projects, Muthuraman said, “We have already submitted proposals. We came for a review. Tatas are into many projects in Karnataka.”
he said Tata Steel will soon finalise plans to refinance $5.4 billion in loans for its British unit Corus this week. “The refinance plan for Corus is happening this week,” he said. However, he declined to name the banks with which the company is negotiating. Tata Steel had taken the loans to fund its $12.9 billion acquisition of Corus in 2007.