TISCO signs agreement with Bangladeshi government
According to recent news in the market, Indian steel producer Tata Iron and Steel Corp (TISCO) has signed an agreement with Bangladeshi government to establish power plant and steel plant in the country. TISCO plans to make a total investment worth $2 billion for the projects.
According to the deal, TISCO will invest $700 million to establish a power plant, $600 million to establish a fertilizer plant and $700 million to establish a steel plant in the country and Bangladeshi government will supply natural gas to the projects for 20 years.
The investment is stated to be the biggest single foreign investment in
Bangladesh.