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Our Bureau

Kolkata , July 10

The Tata Group is committed to its $3-billion project proposals in Bangladesh but it might consider suspending them if it faces further delay in getting the necessary official clearances.

According to a press release issued by the Tata Group, its senior officials including Mr Alan Rosling, Executive Director of Tata Sons, met representatives of Board of Investment of Bangladesh and its Executive Chairman, Mr Mahmudhur Rahman on Monday.

Mr Rosling reaffirmed Tata Group's investment proposals but apprehended that they might not be considered before the General Elections, which is scheduled for January 2007.

When asked whether it signified withdrawal of its proposals, he said: "We are firm believers in the economic development of Bangladesh and will continue to monitor opportunities in the country closely. However, if indeed we are facing such a delay from the Government, we have no option but to suspend further work on these projects."

He further added that the delay might affect the future prospects of the investment proposals and it would be considered only at that point of time after studying opportunities available in other parts of the globe.

Tata Group submitted its revised offer on April 30, 2006 after some nine months of detailed negotiation on a proposed 2.4 million tonnes per annum steel plant, captive and IPP power plants, an open cast coal mine and a one million tonne per annum urea fertiliser plant.

In October 2004 a formal agreement EoI (Expression of Interest) was signed between Mr Ratan Tata and officials of the Bangladesh government. The group is already present in Bangladesh through Tata Motors, Tata International, TCS and Tata Tea.

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