An Abu Dhabi-based group has come up with the second largest investment plan offered by any single investor in the country, surpassed only by Tata Group. The plan includes upgrading the Dhaka-Chittagong highway into an

expressway and setting up a 500MW power plant and a five-star hotel in Cox's Bazar.

If the government approves, Dhabi Group, the largest business conglomerate of United Arab Emirates also has shown real interest to get involved in the coun-

try's international telephone call traffic management.

In a meeting with Board of Investment (BoI) Executive Chairman Mahmudur Rahman yesterday, a five-member delegation lead by the group's Chief Executive Officer Bashir A Taher also expressed their intention to invest in pharmaceuticals and real estate sectors.

The delegation that had arrived here on Tuesday on a five-day visit apprised the BoI chief on the group's serious ambition to expand its operations into Bangladesh market.

The delegation comprising top executives of the group's telecoms and banking units also said they would consider a BoI proposal to develop a tourism facility centre in Cox's Bazar.

Talking to the media after the meeting, BoI executive chair said although the delegation did not specifically mention the planned investment volume, if all of its projects get implemented, it may require nearly $2 billion.

Rahman said the group has developed through modern tourism infrastructure the Desert City of Abu Dhabi as a unique destination for international tourists. So, it can utilise that experience in developing the Cox's Bazar tourism centre.

According to the Dhabi Group's proposals, it wants to construct an expressway between Dhaka and Chittagong, which would provide exclusive and non-stop services to vehicles in exchange of a certain amount of toll.

Telecommunications sector tops the group's priority list for investment in Bangladesh. Apart from mobile phone service, it wants to operate as an international gateway for Bangladeshi subscribers, alongside Bangladesh Telegraph and Telephone Board.

BoI sources said the group's

chairman, Nahayan Mabarak Al Nahayan, a member of the UAE royal family, might come to Bangladesh in April, if negotiations on investment proposals in telecoms and acquisition of Samil Bank of Bahrain by Bank Alfalah, a concern of the group, make any notable progress.

The delegation yesterday also met Post and Telecommunications Minister Aminul Haque and discussed its investment proposal in telecoms sector.

Some members of the delegation will go to Chittagong today to conduct a preliminary feasibility study on opening a branch of Bank Alfalah in the port city. While the rest of the delegation members will meet with State Minister for Power Iqbal Hasan Mahmood, State Minister for Civil Aviation and Tourism Mir Mohammad Nasiruddin and Bangladesh Bank Governor Fakhruddin Ahmed today.

The proposal of the UAE group is the second largest investment plan by a single investor in Bangladesh's history after India's Tata Group, which is now carrying out the preliminary work to implement its $2 billion investment in steel, power and fertiliser sectors, BoI sources said.

The other members of the delegation are Bank Alfalah CEO Parvez A Shahid, Warid International-Abu Dhabi CEO Ali Al Awais, Adviser to the Dhabi Group Board of Directors Marwan Zawaydah and Bank Alfalah Corporate Architect Ahmed Muktar.