A decision on Tata Group's $2.5 billion investment in Bangladesh for setting up power, steel and fertiliser plants will be taken by the end of January so that a deal could be sealed in February, a top official said in Dhaka on Friday.
Both sides were trying to end negotiations by the end of January to seal a deal next month, Mahmudur Rahman, the head of state-run Board of Investment and also Bangladesh government's Energy Advisor, said.
"We will send it (Tata proposal) to the Cabinet after the end of this month in whatever shape it maybe in," he told the private NTV channel.
Bangladesh and Tata will start another round of negotiations on January 22.
Last talks this month looked optimistic, with S Manser Hussain, Tata's resident director in Dhaka, saying that "at the pace we are going now and BOI chief's encouraging words that some outcome might be coming in February we think it is very possible. Things are gaining momentum."
"Time has now come for a final decision," he told PTI earlier, adding that he agreed that a political decision was important before such mega projects.
Hussain said they were hopeful and looked forward to talks, which had started in May last year, in the coming weeks.
Prime Minister Khaleda Zia's Cabinet has to approve the investment proposal to launch it.
Tata has proposed to set up power, steel and fertiliser plants worth $2.5 billion, which if approved by Dhaka would be the single largest foreign direct investment so far for this cash-hungry country.
The pricing of natural gas to be supplied to plants has been a sensitive issue with Bangladeshi experts cautioning against any decision keeping in mind domestic needs unless new major gas fields were found.
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