Bangladesh has not rejected Tata's proposal: Minister

Dhaka, Oct 16 (UNI) Quashing doubts on the three billion dollar investment proposal from Tata Group, Bangladesh Industries Minisiter Matiur Rahman Nizami today said that the Government has not rejected the proposal and it is still ''under process''.

''We always welcome any investment proposal from any country, but this proposal should be approved through negotiation,'' he said while addressing a press conference on the performance and achievements of his ministry in last five years.

Earlier, Prime Minister Khaleda Zia's 4-party alliance Government had put on hold the Tata Group's proposal to set up a steel plant with an annual production capacity of 2.4 million tonnes, an urea factory with a one million tonne capacity, a 500 MW coal-fired station and a 1,000 MW gas-fired power plant, in light of upcoming general elections in the country.

The elections are scheduled to be held in January 2007.

Mr Nizami, also the Ameer of Jamaat-e-Islami, said the government has reached a consensus on many issues concerning the Tata proposal but it needs more time to reach any conclusion.

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