"The talks are expected to resume very soon," Tata Resident Director in Dhaka, Syed Manzer Hussain, told newsmen late yesterday after meeting with interim government's commerce advisor Hossain Zillur Rahman.
Hussain did not elaborate exactly when the talks would begin but officials said these were expected to resume in the first week of June 2008.
The Tata representative said, "Many things need to be reviewed because so many changes have taken place in the last two years," as their investment proposal remain undecided since August 2006.
The Indian conglomerate on April 2005 formally submitted $2.5 billion investment proposal and revised it to around $3 billion to set up a 1,000 Mw power plant, a steel mill with an annual production capacity of 420,000 tonnes and a fertiliser unit with one million tonnes capacity in Bangladesh.
Tata had offered 10 per cent stake to Bangladesh government in each of these projects if the proposals and list of concerns were enlisted with Dhaka stock exchange.
"We will definitely make sure that the country's interests are protected while we welcome foreign invest," said commerce adviser after talks with Hussain.
Rehman said Tata's interest to invest here as well as interest shown by others like Mittal Group mean that Bangladesh is a good destination for investment.
