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Drumbeat: Ad Buzzaar
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Monday, July 27, 1998
Goa bags major auto project
EXPRESS NEWS SERVICE
PANAJI, July 26: Goa, which is perceived as an investment-unfriendly state, is seeking to transform its image by quickly clearing a major automobile component manufacturing project valued at over Rs 400 crore. Goa's Industries Minister Luizinho Faleiro told The Indian Express that the state's High Power Consultative Committee (HPCC) has cleared the proposal mooted by Teksia Kalyani Iron Foundaries Ltd, which is being promoted by Teksia SPA, an affiliate of Fiat, Italy, and Bharat Forge Ltd, Pune.The project, to be completed in two phases, will manufacture metal-casting components. The first phase is expected to cost Rs 120 crore while the total cost is estimated at Rs 400 crore. The project would provide employment to 800 persons. Sesa Goa, a corporate major here, will provide the venture with eight lakh sq mt of land apart from supplying raw materials. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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