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February 16, 2007 14:51 IST
India's conglomerate Tata Group is mulling resumption of talks with Bangladesh about its $3 billion investment plan in the country.
Tata, who had to suspend its investment plans in the neighbouring country last year, is now exploring possibility to resume talks with the current caretaker government, a senior group official said.
"We are exploring the possibility of starting off again from where we left last time and come to a good conclusion," the group's resident director in Dhaka S Manzer Husain told private news agency UNB after Thursday's meeting with Foreign Affairs Adviser Iftekhar Ahmed Chowdhury.
The group's investment proposals include setting up a 2.4 million tonne steel plant, a fertiliser plant, a 475 MW gas-fired power plant and development of Barapukuria coal mine through open-cast methodology.
The project has remained suspended since last July. Husain said he apprised Chowdhury of Tata's proposed projects in the country.
When asked whether he expected a positive outcome, Husain said, "We just apprised him and I think we should give them time to assess the situation", adding that the group hopes to move forward as the projects are beneficial for Bangladesh.
He said, "every situation is favourable for foreign investment... the only thing is, intention should be there".
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