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12

India’s Tata Group Short Of Gas Reserves

A multinational conglomerate based in Mumbai, India, Tata Group, was informed by starved Bangladesh that Indian company was lack of gas reserves in existing fields and prospects of the upcoming coal policy

A multinational conglomerate based in Mumbai, India, Tata Group, was informed by starved Bangladesh that Indian company was lack of gas reserves in existing fields and prospects of the upcoming coal policy.

Tata Group had proposed $3 billion investments in setting up a 1,000 mw power plant, a steel mill with an annual production capacity of 4,20,000 tons and a fertilizer unit with one million tons capacity in Bangladesh. But in July 2006, it had announced suspending work on the project because of inordinate delays by the government in according approval to it.

The talks were stalled as the then Bangladesh Nationalist Party government, led by now detained ex-Prime Minister Khaleda Zia, was unwilling to make a final decision on the proposed investment before the scheduled election, which was originally slated for January last year.