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Bangladesh to restart talks with Tata on investment: Report

Bangladesh to restart talks with Tata on investment: Report
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First Published: Sun, Apr 27 2008. 12 41 PM IST
Updated: Sun, Apr 27 2008. 12 41 PM IST
By PTI
Dhaka: Bangladesh government has decided to resume talks with the Indian conglomerate Tatas for its investment proposals totalling $3 billion (Rs12,053crore), according to media reports.
“The move is a response to a letter from Tata to the Finance Adviser in which Tata asked for resumption of talks that have been on the ice since August 2006,” leading Bangladeshi newspaper The Daily Star reported.
In 2005, the Tata Group initially proposed setting up a 1,000 MW power plant, a steel mill with a capacity of 4,20,000 tonnes and 1 million tonne fertiliser unit in Bangladesh, The Daily Star reported.
The daily quoted Tata representative Mohammad Reaz saying they had received a letter from BoI where the agency invited them to launch a fresh dialogue.
In July 2006 the Tata Group had announced suspending work on its mega investment project because of inordinate delays by the government in according approval to it.
Following Tata’s letter, the neighbouring country’s Finance Ministry has instructed its BoI to invite the salt-to-software giant’s representatives for fresh talks.
“We received a letter from the Tata Group in the middle of February where they sought a fresh dialogue to settle the multi-billion dollar investment proposal.
“The ministry after consulting with the government policy makers, decided to resume the dialogue,” the daily quoted a Finance Ministry official as saying.
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First Published: Sun, Apr 27 2008. 12 41 PM IST
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