Tata Steel officials had earlier indicated that they will not be able to wait indefinitely given that the same mineral is available in Andhra Pradesh and Orissa.
In July this year, Tata Group had scrapped four projects in Bangladesh including a 1,000 MW gas-fired power plant, a 500 MW coal based power plant and plans to make one million tonnes of fertilizer and 2.4 million tonnes of steel in Ishwardi.
The estimated value of these projects was close to $4 billion. Since Bangladesh government could not provide the requisite natural gas for these projects they had been abandoned.
Image: Bangladesh Prime Minister Begum Khaleda Zia (right) talks with Commerce Minister Kamal Nath (center) as Tata Steel chairman B Muthuraman (left) looks on. | Photograph: Raveendran/AFP/Getty Images
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