Bangladesh makes fresh plea to Tatas for investment - India Business - Biz - The Times of India
Bangladesh makes fresh plea to Tatas for investment
TNN, Mar 27, 2010, 12.55am IST
KOLKATA: Bangladesh industries minister Dilip Barua on Friday held out the olive branch to the Tata Group saying that the Sheikh Hasina government is willing to restart talks with the Indian conglomerate about reviving its Bangla investment plans.
"We are open to negotiate with the Tatas," Barua said on the sidelines of a programme organised by Indian Chamber of Commerce. The Tatas had in the past shown an interest to pump in about $2-3 billion in a slew of projects in Bangladesh, which included a steel mill, a fertiliser unit and power plants.
However, the plans could not materialise then because of the Bangladeshi authorities not agreeing to the Tatas' request to provide gas at cheaper rates. On his part, Barua also conceded that gas remained a ticklish issue. "It will not be possible to provide concessional gas at the moment as Bangladesh itself is running short of it," he said. The Tata Group could not be reached for a reaction.
Incidentally, Barua is the second Bangladeshi minister in recent times to indicate Dhaka's willingness to do business with the Tatas. Earlier this month, Bangladesh primary and mass education minister Md Motahar Hossain, too, had spoken along the same lines. "An Indian business delegation will visit Bangladesh in April to explore opportunities," Barua said.
Incidentally, possibilities of greater economic cooperation between India and Bangladesh have increased ever since Sheikh Hasina came to power.