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Tatas, Bangladesh discuss $2.5 bn investment proposal
Publish Date : 5/30/2005 3:21:00 PM Source : Business News
India's Tata Group held its first round of negotiations with the Bangladesh government on a $2.5-billion investment proposal in fertiliser, steel and power projects here.
The Indian conglomerate is to come back on June 19 to resume talks, official sources said here after the talks Saturday. The 15-member Tata Group team has been impressed with the outcome of its negotiations in the last four days, and would enter the "next stage of talks for reaching serious understanding" on the investment proposal. The Tata Group executives, including its Bangladesh liaison office chief Manjer Hossain and its senior executive director, Alan Rosling, wrapped up the meeting with Finance Secretary Zakir Ahmed Khan at the Bangladesh Secretariat Saturday. During this round of negotiations the Tata Group asked Bangladesh to ensure uninterrupted supply of around two trillion cubic feet of gas for 30 years for its proposed projects. The group had submitted a feasibility study in April, scaling up its proposed investment to $2.5 billion, from the initial $2 billion, in steel, power and fertiliser plants. It expects that its planned investments will generate annual exports worth $1 billion from Bangladesh. In October 2004, Tata Group Chairman Ratan Tata had visited the Bangladesh capital to witness the signing of an Expression of Interest with the Board of Investment on its proposed investments. The Tata Group, as per its Expression of Interest, proposed $700 million investment in a basic steel mill and an equal amount in a 1,000 megawatt power generation project, and another $600 million for a fertiliser factory. The group wants to prospect for coal to fuel its planned power plant.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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