Dhaka, Bangladesh (BBN)- Sahara India Pariwar is interested to invest more than $100 million in Bangladesh initially, the Indian conglomerate Chairman Subrata Roy Sahara has announced in Dhaka.
"Our investment here will start with $100 to $125 million for one project. More investment will come with the work proceeding," Subrata said at a press conference in the capital's Ruposhi Bangla Hotel on Friday.
Sahara launched its first ever company in Bangladesh named ‘Sahara Matribhumi Unnayan Corporation Limited’ on the day.
Subrata Roy, who came to Dhaka on Tuesday on his first trip here, said they have plans to invest in around 10 projects here.
He said the newly formed company, Sahara Matribhumi Unnayan Corporation Limited, will look after Sahara's business in Bangladesh. Registration process of the firm is underway.
Sheikh Fazle Hossain Fahim, nephew of Prime Minister Sheikh Hasina, has been made its director. "Fahim will be our guide here and act as a mentor," Subrata added.
The Sahara chairman said during his three-day visit he had several meetings with the top officials of Bangladesh Bank and Board of Investment (BoI) and placed a number of investment proposals for at least 10 sectors in Bangladesh.
BBN/SSR/AD-26May12-9:50 am (BST)
