Bangladesh's military-backed government will reopen negotiations with Indian conglomerate Tata on Sunday on the group's record three-billion-dollar investment plan, officials said. Senior Tata officials led by its executive director Alan Rosling will meet top government bureaucrats nearly two years after the conglomerate postponed what would be the biggest single foreign investment in Bangladesh.
The Indian salt-to-telecoms giant offered to build a steel plant, two power plants, a fertiliser plant and a coal mine back in 2006, after upgrading a 2004 plan. Bangladesh investment board chief Kamaluddin Ahmed confirmed the talks, but refused to provide agenda details.
A Tata official said the group was encouraged by "positive indications" from the Dhaka government."Yes, there is an intention to move it forward," said Tata's Bangladesh chief Syed Manzer Hossain.
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