The New Nation - Internet Edition

UNB, Dhaka

Indian industrial giant Tata Group is still hopeful of having its proposed 3 billion investment in place in Bangladesh.

S Manzer Hussain, the resident director of the company, gave the indication at a function organised on the occasion of Tata's founding anniversary on Monday.

"We're still hopeful…, we want to continue our relations with Bangladesh whatever the business we do…" said Manzer.

Tata is expected to wait until a stable situation comes back in Bangladesh.

The Tata Group had signed an expression of interest with the Board of Investment (BoI) in 2004 to implement its proposed investment, which includes setting up a steel mill, a fertilizer factory and installing a power plant.

But at one state of negotiations the previous BNP government had decided that the next elected government should take the final decision, prompting Tata to suspended its project in Bangladesh in 2006.

Despite the suspension, the Tata Group's top executives expressed their intention on several occasions to move forward with the project.