Tatas hopes for good conclusion of its $ 3 bln project in Bangladesh

Dhaka, Feb 15 (UNI) A top official of industrial giant Tata today said they are exploring the possibility of starting off its three billion dollar package investment project in Bangladesh through a good conclusion of the final deal.

Tata's package investment proposals include setting up a 2.4-million-tonne steel plant, a fertiliser plant, a 475 MW gas-fired power plant and the development of Barapukuria coal mine through open-cast methodology.

The project has been suspended since last July, before the previous government handed over power to the caretaker government.

''We are exploring the possibility of seeing if we can start off again from where we left last time and come to a good conclusion,'' Mr S Manzer Husain, Resident Director of Tata Group was quoted by UNB as saying after meeting with Foreign Affairs Advisor Iftekhar Ahmed Chowdhury.

Mr Husain said he apprised the advisor of the Tata projects.

Asked if he got positive response to the project from the advisor, he said, ''We just apprised him, and I think, we should give them time to assess the situation and then get us.'' He, however, said. ''Since the benefits of the project are so good, obviously, we hope that they would also be looking at how to take it forward, if possible.'' Mr Husain was asked if he feels encouraged about their project after the current caretaker government recently signed a 1,033 crore takka deal with an Indian company for setting up 240MW power plants in Bangladesh. ''I think, the best thing is to wait for some time,'' he said.

The official ruled out the possibility of any delegation of Tata visiting Bangladesh in the near future.

Asked if he thinks the current situation in Bangladesh is favourable for foreign investment, Mr Husain said, ''Well, every situation is favourable for foreign investment. Only thing, intention should be there. And I think, every well-meaning Bangladeshi would have the good intention of getting foreign investment.'' In reply to a question on steps so far taken by the interim caretaker government, the official said, ''As a common person what I see in the media and from the general reaction, things are moving in the correct direction.'' UNI