The Tata Group, which signed an expression of
interest in October 2004 with the Bangladesh’s Board of Investment (BoI)
for putting up three ‘gas-based projects’ in that country, has
made progress with its investment plans.
The group is currently doing the feasibility
studies to decide the locations of its proposed 2.4 million tonne steel plant,
the 1,000 MW power project and the one million tonne fertiliser plant.
It is learnt that the steel and power plants
would to be co-located close to its Bangladesh's border with India. The
fertiliser unit is likely to come up in Chittagong, although the exact
location would be determined only when feasibility reports are finalized.
The Tata group has appointed MN Dastur & Co
as consultant for the steel plant project (which would produce hot rolled
coils/flat products), while Tata Consulting Engineers (now TCE) and the public
sector Projects & Development India Ltd (PDIL) are handling the
feasibility studies for the power and fertiliser units, respectively.
The feasibility studies are expected to be over
end-March 2005 and discussions with the Bangladesh government would begin from
April 2004 onwards. The groundwork, in all respects, is targeted for
completion by end-2005.
The three projects would be with three
different companies, whose names and financial structuring is yet not decided.
It is further learnt that Tata Power, Tata Iron & Steel Co and Tata
Chemicals, would be spearheading their respective projects in Bangladesh.
The total investment in the three projects,
estimated at 2 billion, would be India's largest outward FDI.
Related News
Tata
Group signs EoI with Bangladesh (15-Oct-04)
Ref: tatabgldesh