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China offered urea plant |
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News |
April 4, 2000 Dhaka, Apr 3 (UNB) – China offered to set up a urea plant at a cost of about 350 million US dollars in northern Bangladesh, a backward region of the country in terms of industry. A major development partner, China is also going to set up a Di Ammonium Phosphate (DAP) plant in Chittagong at a cost of 60 million dollars with an annual production capacity of 264,000 metric tones. The plans were unveiled when a 15-member visiting Chinese delegation led by Assistant Minister for Foreign Affairs Wei Jianguo met with Industries Minister Tofail Ahmed at his office here today (Monday). Tofail informed the delegation that the government had almost completed the process of signing a contract for construction of the DAP plant. Physical works could be started by August next. He said the government is also negotiating with the Chinese government a number of projects. The projects include 75 million-dollar BMRE for Karnaphuli Paper Mills, 20 million-dollar granular urea unit in Ashuganj Fertilizer Factory, 25 million-dollar BMRE for Polash Urea Factory and 20 million-dollar scheme for installation of 6 million-ton-capacity machines in Sylhet Pulp and Paper Mills. The Industries Minister further informed that the present government is committed to setting up a urea plant immediately, which involves 350 million dollars. “We are interested in getting ISP (Interest Subsidized Preferential) loan from China for the project,” he told the delegation. Referring to trade imbalance of Bangladesh with China, Tofail Ahmed said the gap was created as Bangladesh imports a wide range of goods-- from heavy machinery to consumer items--from China. “China can compensate offering us ISP loan for our industrialization process,” he said. Mentioning that Bangladesh has been improving a lot in agricultural production with country’s emphasis on agro-based industries, the minister sought Chinese support as it has a vast experience in the field. Welcoming the growing economic ties between Dhaka and Beijing, the Chinese minister said China has world-reputed corporation to set up urea factory and his country would be delighted to set up another factory in Bangladesh. China is also very eager to participate in the BMRE projects in paper and fertilizer sectors, which is under negotiations, he said. “China considers Bangladesh as important development partner and we will do everything for strengthening the partnership,” said the minister.
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