Tatas in investment talks with Bangla
The Financial Express— May 9, 2005

After submitting a feasibility study on the proposed $2.5 billion investment in Bangladesh, senior Tata group officials have held detailed discussions with representatives of the government here to work out a 'timetable' for implementation of the projects. Top officials of the Indian conglomerate discussed threadbare issues related to implementation of the proposed projects, including infrastructure upgradation, gas supply agreements and allocation of land.'

"We are pleased to be starting today the detailed discussion of our projects with the government of Bangladesh. These projects are very much in the interest of the economy and the people of Bangladesh," said B Muthuraman, managing director of Tata Steel, after the deliberations, "The purpose of today's meeting was to agree on a timetable to start discussions on various issues that will require the agreement of the government of Bangladesh in order to see the projects proceed," Mr Muthuraman said.

While the industrial giant was represented by Mr Muthuraman, Alan Rosling, executive director or Tata Sons, Firdose Vandrevala, managing director of Tata Power, and Prasad Menon, managing director of Tata Chemicals, the Bangladeshi side was led by industries minister Motiur Rahman Nizami and state ministers for power and energy, the company said in a release. Tata group has proposed to invest $2.5 billion in fertiliser, power and steel sectors in the country and had conducted feasibility studies to examine its business suitability as also other pros and cons of the business.