No Indian decision yet on investing in N'ganj inland container port

FE Team | Published: June 04, 2013 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report India has not yet taken any decision on any investment to construct the inland container port in Narayanganj, Indian High Commissioner (HC) in Bangladesh Pankaj Saran said Monday. The national laws and policies of Bangladesh regarding any such investment, if it comes from any Indian company, would be thoroughly followed, he asserted. The High Commissioner was talking to reporters after holding a meeting with Foreign Secretary Md Shahidul Haque at the latter's office. "If and when we take any decision or the company concerned takes this decision, it will have to be fully in accordance with the national laws, policies and procedures of the government of Bangladesh," Pankaj Saran told reporters. "The Indian company felt that it needs to do a feasibility study before it can take any investment decision. No investment or any decision regarding any such investment has therefore been taken," he said. He said India was extremely sensitive to the concerns and apprehension that had been raised here on the Narayanganj container project. India has no intention of violating any norms of inter-governmental behaviour and fully respect the sovereignty of Bangladesh, he said further. Elaborating, the High Commissioner of India said a proposal of Foreign Direct Investment was made by a Bangladesh company to an Indian company concerning the particular project. The Indian company felt that it needs to do a feasibility study before it can take any investment decision, Pankaj Saran said justifying the 'invitation of tender' by the Indian foreign ministry recently. The Indian Ministry of External Affairs on May 10 posted an advertisement on its website inviting bids for Techno-Commercial Feasibility study for setting up an inland container port at Narayanganj, Bangladesh. The Bangladesh Ministry of Foreign Affairs sent a letter to the Indian Ministry of External Affairs on Monday last through the High Commission of India in Dhaka seeking to know how it had happened. Dhaka also asked the Bangladesh High Commission in New Delhi to inform the government back home how the tender notice was published without prior consultation with Bangladesh, sources said. Senior officials in the ministry of foreign affairs and the shipping ministry said that they had neither given any approval to the Indian government nor any Indian company to set up an inland container port in Narayanganj. According to sources, Kumudini Welfare Trust of Bengal Ltd, Bangladesh, owns around 46 acres of land close to the Shitalakkhya river in Narayanganj and has shown interest in setting up an inland container port jointly with a suitable foreign company. Pankaj Saran said India would soon arrange a Road Show in India for encouraging Indian investment in Bangladesh, adding India-Bangladesh Foundation would soon be established. Pankaj Saran said India would again try to introduce the LBA (Land Boundary Agreement) Bill in the next session of its parliament. "We are trying to have a consensus with the opposition parties in India, so that the LBA Bill is passed," he said. He said India would continue to try to ratify the LBA as it is a commitment made by Indian government to Bangladesh. On BICM (Bangladesh, India, China and Myanmar) Economic Corridor, the Indian envoy said they had discussed the issue of creating a joint study group to constitute BICM Economic Corridor. Many possibilities would open for the region if the proposed economic corridor is set up, Pankaj Saran said. Responding to a question, the High Commissioner said they also had discussed the Teesta Water Sharing agreement and the present border situation. On the progress of Indian Line of Credit, he said some US$ 100 million have already been handed over to Bangladesh government for various projects. "We have identified 15 projects worth US$ 794 million under the Line of Credit."