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Bank of Baroda set to open in Trinidad

By Paras Ramoutar


Port-of-Spain (Trinidad) : Bank of Baroda and Essar Steel Corp are set to open in Trinidad, according to Minister of Overseas Indian Affairs Vayalar Ravi.

The minister told the media that in addition to these two companies, India's business sector was looking for further opportunities in Trinidad while providing opportunities Trinidad & Tobago businesses to operate in India.

Bank of Baroda (Trinidad and Tobago Ltd) managing director Kishor Kharat said the bank would open in July.

The Bank of Baroda received approval to commence operations in March. It now operates in 21 countries, Kharat said.

Simultaneously, three other branches will open in other parts of the world.

"We are ready to open the doors. The only thing is establishing connectivity worldwide is taking time," he added.

P.R. Dhariwal, managing director of Essar Steel Caribbean Ltd., said he expected the plant to be completed by 2009 with a production capacity of 2.5 million tonnes a year.

Minister Ravi left Trinidad Friday morning on a visit to St. Vincent and will fly out later in the evening to Suriname.

Indian High Commissioner Jagit Sapra Singh hosted a reception for the minister at his residence Thursday night.