Bihar government wants to break TISCO's steel resolve - Views on News from Equitymaster

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  • Jun 5, 1999 - Bihar government wants to break TISCO's steel resolve

Bihar government wants to break TISCO's steel resolve

Jun 5, 1999

In a bid to focus on its core competence - steel, TISCO has been selling its companies and factories in and around Jamshedpur. But the Bihar government has thrown a spanner in its works and has sought its piece of the action (read money). With this end in mind, the government has delayed renewal of Tata's lease for the 15,000 acres land in Jamshedpur and its adjoining areas. The 20-year lease had expired in 1995, and the Tatas are finding it very difficult to persuade the state government for a renewal.

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