Business Daily from THE HINDU group of publications
Wednesday, Aug 09, 2006
Business Daily from THE HINDU group of publications Wednesday, Aug 09, 2006 |
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Corporate
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Overseas Investments Tata investments in Bangladesh in `pause mode' Our Bureau
New Delhi , Aug. 8 The investments that the Tata group planned in Bangladesh were in a "pause mode", the company's Director Finance, Mr Ishaat Hussain, has said. "Nothing is cast in stone. However, we are not in wait and watch but in a pause mode. Let us see how things unfold there," said Mr Hussain when asked about the company's plans in Bangladesh.
Tata's plans
The Group was planning to invest $3 billion in Bangladesh for setting up a steel plant, power station and other infrastructure projects. In July this year, the Group said that though it was committed to the $3 billion project proposal in Bangladesh, it might consider suspending them if it faces further delays in getting the necessary official clearances. A senior company official while reaffirming the Group's investment proposals apprehended that they might not be considered before the general elections, which is scheduled to be held in Bangladesh early next year.
`No time frame'
"When the (Bangladesh) Government actively engages with us we will engage. Let us see how things unfold there. However, there is no time frame for it," Mr Hussain said. The Tata official added that a number of factors would have to be considered before the group decides to invest in Bangladesh including whether the deal is commercially viable. The group is already present in Bangladesh through Tata Motors, Tata International, TCS and Tata Tea.
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