"We'll take part in the privatisation process of the country's nationalised commercial banks. To begin with, we want to invest in one of the banks the government plans to privatise," Group Chief Executive Officer (CEO) Bashir Ahmad Tahir told reporters at the end of his five-day visit to Bangladesh yesterday.

Tahir arrived here on Tuesday leading a five-member high-profile delegation comprising top executives of telecoms and banking concerns of the Abu Dhabi-based group owned by the royal family of Al Nahayan.

He said, "We've had talks with the government on where they [the government] would allow us to invest."

He also indicated an aggressive expansion target of his group into other areas of business, saying, "Once we're here, we'll explore further opportunities. Lots of investment potentials are there in the country."

Dhabi has already lodged a proposal with Bangladesh Telecommunications Regulatory Commission (BTRC) to obtain a cellphone operating licence under the name of Warid Bangladesh Limited. Its initial invest target in telecoms is $750 to $800 million, the group CEO said.

Tarik also announced, "Not only in cellular sector, we're also interested in fixed line phone and other kinds of telecommunications."

The delegation earlier held talks with the Post and Telecom-munications Minister Aminul Haque and discussed issues relating to telecoms, sources in the ministry said.

The group has also submitted a proposal to build a five-star hotel in Cox's Bazar in joint venture with the government.

Earlier on Wednesday, after a meeting with the delegation, Board of Investment (BoI) Executive Chair Mahmudur Rahman told the media that if all of its projects get government approval the total investment required would be to the tune of $2 billion.

Other BoI officials also confirmed that Dhabi Group's investment package would be the second largest one by any single investor, surpassed only by Tata, which is now carrying out the preliminary work to implement its $2 billion investment in steel, power and fertiliser sectors.

The delegation told the BoI they would consider its proposal to develop a tourism facility centre in Cox's Bazar.

BoI sources said Group Chairman Nahayan Mabarak Al Nahayan, a member of the UAE royal family, might come to Bangladesh next month, if negotiations on investment proposals in telecoms and acquisition of Samil Bank of Bahrain by Bank Alfalah, a concern of the group, make any notable progress.

Earlier on Thursday, some delegation members went to Chittagong to conduct a preliminary feasibility study on opening a branch of Bank Alfalah in the port city. That day the rest of the delegation met State Minister for Power Iqbal Hasan Mahmood, State Minister for Civil Aviation and Tourism Mir Mohammad Nasiruddin and Bangladesh Bank Governor Fakhruddin Ahmed.

The groups proposed project portfolio also include upgrading of the Dhaka-Chittagong highway into an expressway and setting up of a 500MW power plant.

Besides Tahir, the other delegation members are Bank Alfalah CEO Parvez A Shahid, Warid International-Abu Dhabi CEO Ali Al Awais, Adviser to the Dhabi Group Board of Directors Marwan Zawaydah and Bank Alfalah Corporate Architect Ahmed Muktar.