Bangladesh to reopen talks with Tata on 3bln dollar investment
DHAKA (AFP) — Bangladesh's military-backed government will reopen negotiations with Indian conglomerate Tata on Sunday on the group's record three-billion-dollar investment plan, officials said.
Senior Tata officials led by its executive director Alan Rosling will meet top government bureaucrats nearly two years after the conglomerate postponed what would be the biggest single foreign investment in Bangladesh.
The Indian salt-to-telecoms giant offered to build a steel plant, two power plants, a fertiliser plant and a coal mine back in 2006, after upgrading a 2004 plan.
Bangladesh investment board chief Kamaluddin Ahmed confirmed the talks, but refused to provide agenda details.
A Tata official said the group was encouraged by "positive indications" from the Dhaka government.
"Yes, there is an intention to move it forward," said Tata's Bangladesh chief Syed Manzer Hossain.
He said the company was ready to discuss all the issues.
"We submitted it in 2006 and it's now 2008. Obviously there are some changes. The government may have some issues. We'll evaluate the changing scenario after we meet," he said.
Bangladesh has been under emergency rule since January 11 2007 when the president cancelled elections amid allegations of poll rigging.
The government has promised to "take up all necessary projects" to promote long-term economic growth and vowed to clean up corruption before restoring democracy and holding elections before the end of 2008.
The Bangladesh Nationalist Party government had promised a decision on the Tata project by June 2006.
But after two years of negotiations, it halted the deal, saying political sensitivities just ahead of the polls make it difficult to reach a decision and left it for a new government after parliamentary elections.
| Bangladesh to reopen talks with Indian conglomerate Radio Australia, Australia - 52 minutes ago Bangladesh's military led government will reopen negotiations with Indian conglomerate Tata on its record three-billion-dollar investment plan. ... |
 | Bangladesh to reopen talks with Tata on 3bln dollar investment AFP - 19 hours ago DHAKA (AFP) — Bangladesh's military-backed government will reopen negotiations with Indian conglomerate Tata on Sunday on the group's record ... |
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