Vol. 5 Num 295 Sat. March 26, 2005  
Front Page

Contract Obligations
Bangladesh has excellent track record: Tata

Bangladesh has an excellent track record with regard to contractual obligations and the country needs to get a start, according to Tata Industries Group Chairman Ratan Tata.

"Contrary to general perception, Bangladesh's track record in contract obligations is excellent. On the whole, it is a country that needs to receive a start. The sooner India, Bangladesh and Pakistan get moving together, the better it is for the region," Ratan Tata told reporters on the sidelines of an extra-ordinary general meeting of the company in Mumbai on Thursday.

He said the Tata Group had undertaken a study for investments in Bangladesh and evinced keen interest in setting up fertiliser, power and steel plants in that country. "The investment plans would be finalised after we complete the study and submit it to Bangladesh government and they get back to us," he added.

The Tata Group chairman, whose proposed two billion dollar projects in Bangladesh would depend heavily on supply of natural gas, emphasised the importance of steady availability of raw materials like iron ore and coal and said Tata Steel was eyeing to own properties abroad for raw materials and not merely to source them from there.