Tata group studying Bangladesh investment proposal
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Tata group studying Bangladesh investment proposal

Monday, 29 November 2004, 08:00 Hrs
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DHAKA: A visiting delegation of Indian industrial giant Tata group said it would take about eight months to conduct a feasibility study for its proposed power plants in Bangladesh.

The Tata team led by Manjer Hossain Sunday called on Minister of State for Power Iqbal Hassan Mahmood here and expressed its interest for gas- and coal-based power plants.

Representatives of the company said it would take at least seven to eight months to complete the feasibility study for the proposed investment.

The team will hold discussions with the Power Grid Company of Bangladesh for power transmission and with Dhaka Electric Supply Authority for distribution system.

Tata group intends to set up a 1,000 MW power station, a steel mill with an annual capacity of 420,000 tonnes and a one million-tonne fertiliser unit at a cost of $2 billion.

The group's demand list includes uninterrupted supply of gas for its proposed plants for 20 years, competitive pricing for the gas, quick facilitation of its investment proposal and selection of suitable sites.

Though the government has given its nod to many issues, the main points of negotiation -- the pricing and supply of natural gas -- are yet to be settled.

Ratan N. Tata, chairman of the Indian conglomerate, visited Bangladesh in mid-October when the group signed an agreement expressing its interest to set up gas-based industries in Bangladesh.

Source: IANS
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