A high-powered British business delegation Is expected to' arrive in foe capital tomorrow to explore trade and investment opportunities In Bangladesh.

During the visit, official sources said, a British oil and gas exploration company Is scheduled to sign a production sharing contract (PSC) to explore oil In southeastern part of the country while a proposal to construct a bridge over the river Meghna at Bhairab would also be discussed

The leader of the delegation. British Parliamentary Under-Secretary Anthony Bal-dry. MP. is expected to arrive here today

The 27-member delegation

comprised representatives from 18 leading British com panies ranging from heavy equipment manufacturers, exploration companies, consult Ing and Investment firms.

The British Department of Trade and Industry and the British High Cothmission in Dhaka are jointly organising foe visit, the first by a business delegation from the United Kingdom in over a decade

The delegation is expected to call on the ministers of Finance. Commerce. Energy. Textiles and Communications and would also hold separate meetings with leading chamber bodies, including the Federation of Bangladesh Chamber

See Page 12 Col 1From Page 1 Col 7 of Commerce and Industry arid the Metropolitan Chamber of Commerce and Industry

The delegation Includes representatives from internationally reputed firms like Bedford Trucks. British Gas Midland Electricity a power generating company. Lasme Plc a leading oil and gas ex ploratton company Mott MacDonald International one of the world's largest consult Ing firms Norwest Hoist Inti Ltd. the largest British con alructlon firm and Smith New Court a well known Invest nient firm.

Cairn Energy Pit repre sented in the deiegatior: along with Holland Sea Search >s expected to sign a PSC with Bangladesh oil gas and mineral corporation to explore oil and gas in the southeast pari of tlx "*uritrv Earlier this year ii«e company signed another PSC for off shore expiration near < < >x s Bazar

Stxirtes say British tias had also signed a memorandum <4 understanding to explore oil tn Bangladesh while LaMtio Mr has also shown keen :ri»eresi

Smith New Court and an

other Investment firm repre sented ul the delegation Global Emerging Markets, both have substantial involvement in the Dhaka Stock Exchange Smith New Court has Invested 140 million US dollars worth of portfolio investment funds tn DSE stocks while global emerging markets also has considerable investment

A Joint venture proposal by Norwest Holst to construct a bridge over the Meghna river ■at Bhairal at a projected coot of about 30 million pound sterling is also expected to be discussed

Some 45 British companies have so far Invested an estimated 100 million pound ster ling In Bangladesh and several have increased Investments in recent years

Bangladesh enjoys a sub stan'ial surplus in trade with 'he UK The country s exports to the Kingdom amounted to : 40 million pound sterling while imports totalled 54 mil

Bangladesh is also the se< ond largest recipient of the British development aid Aid from UK was to the tune of 55 million pound sterling in 1993 94