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Dhaka, May 23 (bdnews24.com) Indian business conglomerate Sahara India Pariwar signed a Memorandum of Understanding (MoU) with Bangladesh government on Wednesday to invest in modern but low-cost township schemes.
Chairman Subrata Roy Sahara and Joint Secretary (Development) of Housing and Public Works Syed Matlubur Rahman and RAJUK Chairman Nurul Huda signed the MoU.
State Minister for Housing and Public Works Abdul Mannan Khan was present during the signing of MoU at his ministry.
According to the MoU, the government is searching for a company to build some townships around Dhaka and Sahara is capable of doing the job.
Both the parties will also cooperate in other projects including affordable housing for low-income group and integrated township.
Sahara India is going to set up an office in Dhaka and will prepare and submit proposals to the government to finalise a deal.
"I have an emotional attachment with this country. From my childhood, I heard so much about Bikrampur (a place near Dhaka) from my mother that I feel I came to my own land, to my own soil," said Chairman Sahara.
His family migrated to India after the partition in 1947 and this is his first visit to Bangladesh.
Roy along with his wife Swapna Roy and around 20 officials arrived in Dhaka on Tuesday on three-day visit.
Investment
Sahara said the size of his investment was yet to be decided.
"I saw in the newspaper that investment amount would be some billions of dollars. But it is now difficult to say how much money we will invest," he categorically said.
The government will provide 'sovereign guarantee' against the investment and his company will procure and manage all the necessary funds, he added.
Indian media reported that Sahara India is going to invest 800 billion rupee in Bangladesh and that the group has already selected 40 square kilometres of land, about 50 kilometres from Dhaka, to begin with.
Mutual interest
State Minister Abdul Mannan Khan said both the parties would work together for a win-win situation.
He said Dhaka would expand, with or without any investment of Sahara Group, after construction of Padma bridge and the government has decided that no unplanned development would be allowed in other part of Buriganga.
Sahara Group has diversified interest including infrastructure and housing, financial service, media, retail chain and consumer products.
According to Time Magazine, it is the second biggest employer in India after Indian Railway
bdnews24.com/ssz/bd/sk/1325h
BIGGEST AWAMI LEAGUE CORRUPTION/HEIST UP TO DATE AND POSSIBLY THE LAST ONE BEFORE THEY LEAVE. I AM ABSOLUTELY GUTTED BY THIS DEAL.
Chairman Subrata Roy Sahara and Joint Secretary (Development) of Housing and Public Works Syed Matlubur Rahman and RAJUK Chairman Nurul Huda signed the MoU.
State Minister for Housing and Public Works Abdul Mannan Khan was present during the signing of MoU at his ministry.
According to the MoU, the government is searching for a company to build some townships around Dhaka and Sahara is capable of doing the job.
Both the parties will also cooperate in other projects including affordable housing for low-income group and integrated township.
Sahara India is going to set up an office in Dhaka and will prepare and submit proposals to the government to finalise a deal.
"I have an emotional attachment with this country. From my childhood, I heard so much about Bikrampur (a place near Dhaka) from my mother that I feel I came to my own land, to my own soil," said Chairman Sahara.
His family migrated to India after the partition in 1947 and this is his first visit to Bangladesh.
Roy along with his wife Swapna Roy and around 20 officials arrived in Dhaka on Tuesday on three-day visit.
Investment
Sahara said the size of his investment was yet to be decided.
"I saw in the newspaper that investment amount would be some billions of dollars. But it is now difficult to say how much money we will invest," he categorically said.
The government will provide 'sovereign guarantee' against the investment and his company will procure and manage all the necessary funds, he added.
Indian media reported that Sahara India is going to invest 800 billion rupee in Bangladesh and that the group has already selected 40 square kilometres of land, about 50 kilometres from Dhaka, to begin with.
Mutual interest
State Minister Abdul Mannan Khan said both the parties would work together for a win-win situation.
He said Dhaka would expand, with or without any investment of Sahara Group, after construction of Padma bridge and the government has decided that no unplanned development would be allowed in other part of Buriganga.
Sahara Group has diversified interest including infrastructure and housing, financial service, media, retail chain and consumer products.
According to Time Magazine, it is the second biggest employer in India after Indian Railway
bdnews24.com/ssz/bd/sk/1325h
BIGGEST AWAMI LEAGUE CORRUPTION/HEIST UP TO DATE AND POSSIBLY THE LAST ONE BEFORE THEY LEAVE. I AM ABSOLUTELY GUTTED BY THIS DEAL.
