Sunday, January 8 2006 16:56 Hrs (IST) - World Time -

Dhaka: The Tata Group and Bangladesh Government have narrowed down differences on some issues pertaining to the Indian conglomerate's proposed US$ 2.5 billion investment in the country but the sensitive gas pricing issue was yet to be settled, sources here said.

The two sides ended two days of talks today (Jan 8,2006)and would again meet on January 22 for some conclusive outcome on Tata's investment plan in this country, sources close to the negotiations said.

The sources said the two sides have already narrowed down differences on some issues, although the sensitive gas pricing issue was yet to be settled.

"We have met NBR (National Board of Revenue) chief on tax and incentives needed for such projects and they will assess why Tata has such requirements," S. Manzer Hussain, Tata Group's resident director in Dhaka, told sources today.

Tata officials also held talks with other senior Bangladeshi officials, including the head of Board of Investment (BOI) Mahmudur Rahman, also the energy advisor to the Government.

Hussain said "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 said, adding that a political decision was important before such mega projects.