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Chinese bank to finance new fertilizer plant |
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September 14, 2000
Dhaka (UNB) - The Export-Import (EXIM) Bank of China will provide a loan of 25 million US dollars for setting up a Di-Ammonium Phosphate (DAP) Plant in Chittagong. An agreement to this effect was signed at the Economic Relations Division (ERD) yesterday (Wednesday). ERD Secretary Dr AKM Masihur Rahman and Vice-President of the EXIM Bank Zhao Wenzhang signed the agreement on behalf of their respective sides, said a press release of ERD. Upon completion of the project, the plant will produce 800 Metric Tons of Di-Ammonium Phosphate daily, which will help meet the local demand of the phosphatic fertilizer. |