Wednesday, November 9 2005 16:08 Hrs (IST) - World Time -

Mumbai: Tata Sons Chairman Ratan Tata today (Nov 09, 2005) said it would play a role for the economic development of Bangladesh with its proposed investment plan.

"We will not be seen as a company taking away from Bangladesh but be a part of it and help develop the country (on the economic front)," Tata said at a conference here organised by International Finance Corporation (IFC).

The Tata group has plans to invest USD 2.5 billion (over Rs 11,000 crore) in Bangladesh including a 1,000 MW power plant for USD 700 million, a 1 million-tonnes-a-year fertilizer plant for USD 600 million and a 2.4 million-tonnes steel mill for USD 700 million.

Answering a question, Tata said the company would try to overcome the impediments that were coming in the way, but added that it would live with them.

"The obstacles will be overcome and we will live with them," he said.

Tata, however, said he had received warm welcome from the party leaders during his visit to Bangladesh.

Describing the philosophy of the group for being 'internationalised', he said Tata Group's philosophy was to make a presence in a particular country and be a part of that country.

Indian Hotels Company Ltd, a Tata group company, he said, would be expanding in several continents across the world.