Apparently frustrated by the government’s go-slow policy, India’s Tata Group on Monday announced suspension of all development activities on the proposed $3 billion projects in Bangladesh but said it would resume the process once the conglomerate is invited to join conclusive talks.
A top executive of the Indian corporate giant blamed the delay in making a decision by the government for the suspension — a Tata move which is, however, yet to be conceded by the government as a complete pullout or dashing of all hopes.
Alan Roseling, executive director of group holding company Tata Sons, told reporters after a meeting with the executive chairman of the Board of Investment, Mahmudur Rahman that ‘If the government does not take a decision they would not wait and therefore they have suspended all their development activities on the proposed project.
The Tata official reiterated an earlier cautionary note that they might consider shifting of the planned projects to somewhere else if multilateral lending agencies, including
World Bank and Asian Development Bank, want to finance similar projects in other places. They said they were extremely disappointed and frustrated.