Radia Tapes: 076 - Radia, G.Ganapathy Subramanium (ET)
Duration: 00:04:42; Aspect Ratio: 1.250:1; Lightness: 0.082; Volume: 0.246; Cuts per Minute: 4.038; Words per Minute: 183.621
G. Ganapathy Subramaniam: Hello?
Radia: Hi, hi Ganu, sorry I've just been...
G. Ganapathy Subramaniam: No, no, no, not at all -
Niira Radia: I have even not reached office -- 6:22, and I am on my way to office now.
G. Ganapathy Subramaniam: My God, alarming! No, no, all I wanted to tell you is that the commerce department has tomorrow called a meeting of all the developers of you know, large SEZs. You know these multi-products like Kajenra, Navi Mumbai, Maha Mumbai are also a part of it. What they are trying to do is to identify the problems of the (inaudible) -
G. Ganapathy Subramaniam: - to see why they are not getting implemented faster and probably they are also going to say that at the State level there are difficulties etc, we will try and help in expediting the clearances etc. Okay, that is one thing that probably, might be some useful information for you.
Niira Radia: Hmm very interesting.
G. Ganapathy Subramaniam: The other one is that there is information going around that Reliance is pulling out of the Haryana SEZ, that Jhajjar... that there are difficulties with the plant -
Niira Radia: No no no, we are not pulling out, we're not pulling out, what we have done is we have aquired about a 1000 acres, right? After that the prices went absolutely sky rocketing high: 1 crore, 2 crores an acre. Who wants to pay 1-2 crores an acre for land which is not otherwise not worth ten lacs an acre or five lacs an acre, right?
Niira Radia: So the problem is that we have taken a call that it makes the project far too expensive and if government wants us to develop SEZs then it has to do something to deal with the rising price uh... issue. People there - farmers went absolutely ballistic!
G. Ganapathy Subramaniam: Yeah, but then after the slump, the financial bubble burst, the economic slowdown things have come down no -
Niira Radia: No no no, Ganu, even then the price of land, the buy - the sellers are not selling. They are saying we will hold on and we will sell at uh - and even if the ones that have come down have come down to 40, 50, 60 lacs an acre.
G. Ganapathy Subramaniam: So then what is the real issue? Cutting down the size of it or what?
Niira Radia: No you will not cut down the size either. We will see what the government does. We are not the only ones in that situation, no. Everybody, everybody in Haryana today has a problem.
G. Ganapathy Subramaniam: Okay.
Niira Radia: It is not an isolation with RIL only. It is to do with Unitech, DLF, TATAs -
G. Ganapathy Subramaniam: Anyways, I will tell my colleagues that...this er issue there's er a need for, you know -
Niira Radia: It is an Industry issue.
G. Ganapathy Subramaniam: Yeah yeah, some clarification, some uh the, whatever people concerned. I'll ask them to send your people, whoever you tell me -
Niira Radia: Manoj Warrier.
G. Ganapathy Subramaniam: Okay, so then Manoj can reply back then and whatever on record he can say. And then I will speak to you for - all the off the record information.
Niira Radia: Correct correct, because this is a very standard issue and we are not the only ones.
G. Ganapathy Subramaniam: Okay,so as of today, I will tell them to hold on to this and not bother about this and we will send a mail and get your responses and all tomorrow, then I will speak to you and then we can -
Niira Radia: The meeting tomorrow is largely on the behest of the Chief Minister saying that the Central Government is going to have to formulate a more friendly policy.
G. Ganapathy Subramaniam: Haan haan haan
Niira Radia: It cannot be in isolation, na
G. Ganapathy Subramaniam: Yeah yeah yeah yeah yeah, I understand that. I think these guys are also now saying that we should come and help people more but at the same time they are saying ki
(that) people who have uh, the clearancess, why are they not implementing?
G. Ganapathy Subramaniam: We should you know, find those answers, ask them, question them and do that. I think that is that probably they want the feedback from the developers tomorrow.
Niira Radia: Hmmm, hmmm. And they will give them the feedback. And I am sure this feedback will come.
G. Ganapathy Subramaniam: This I will - This I will take care, don't worry. And now please tell Manoj somebody will send a mail and he can give officially whatever information...
Niira Radia: Yeah yeah yeah, we have an official response. We will do that.
G. Ganapathy Subramaniam: Yeah, okay.
Niira Radia: So, tomorrow Gannu 4:30?
G. Ganapathy Subramaniam: Sure sure, I have no problem.
Niira Radia: I'm okay for 4:30, I have an inauguration at 12:00.
G. Ganapathy Subramaniam: Okay.
Niira Radia: And then I'd be back at office at about 2:30, 3:00. So just in case there is an hour's delay or something, so 4:00, 4:30 would be absolutely perfect.
G. Ganapathy Subramaniam: Okay, I am fine.
Niira Radia: Even 4 o'clock is fine -
(Tape ends abruptly)