Tata plans $2 B investment in Bangladesh
By agencies   |   Monday, 11 April 2005, 19:30 IST
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DHAKA:The Tata group, which proposed a $2 billion investment plan in Bangladesh, has found the "investment climate suitable and positive" in the country. The company plans to invest an amount of $2 billion in the country to set up a giant steel mill, a 1000 mw power plant and a fertilizer factory. A visiting team of the company headed by S Ramakrishnan held talks with Bangladesh State Minister for Power and said they have found the country’s "investment climate suitable and positive." The pre-feasibility study on the planned investment is now in the final stage and would be ready for submission by the end of the current month, Ramakrishnan said. He said Tata Group would start negotiations with the Bangladesh government later this month to sign the contract for planned investment. Last year it signed an expression of interest with the state-run Board of Investment. During the meeting with the State Minister, the delegation briefed him on the progress of the study and discussed other aspects of the planned investment. Sources close to the meeting said the Minister urged the Tata officials to consider the possibility of setting up the power station as a "merchant plant" so that they could sell electricity to the private consumers instead of the government. He also urged them to set up a coal-fired power plant.

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