Mittal not scared by Singur row, Tatas doing great job

New Delhi, Sep 10 (PTI) Steel baron Lakshmi Mittal Wednesday said there was no question of his company backing out from investing in the country in the backdrop of Tatas' predicament in Singur, which he described as a one-off incident.

"It does not give us nightmares. One instance of Singur cannot be an example for the entire country," Mittal told journalists when asked if ArcelorMittal was scared by episodes like those in Singur.

"If we can get the 123-deal (between India and the U.S.)
passed without the help of communist parties, why cannot we
resolve the issue of Singur," he wondered.

Mittal, however, hoped that a solution could be found to
the row over land allotment in Singur, where Tata Motors is
facing opposition to its low-cost car 'Nano' project.

"There is something to learn and we are learning each and
every day. There is no question of revisiting our decision to
invest in India," he said referring to the company's plans to
invest U.S.D. 20 billion dollar to set up two steel plants in
the country.

"I'm confident that the Nano issue will be resolved.
After all, Tatas are doing a wonderful thing and they are
doing it for the people of India. We are living in a
democracy, a country of law and I am sure and confident that
the government concerned (West Bengal) and Tatas would resolve
the issue very soon and amicably."

His comments follow concerns raised by other companies
such as Infosys and Toyota on their investment plans. PTI SKB