Japan will finance Sugar Industries and Fertilizer Factories

The Japan Bank for International Cooperation (JBIC) has expressed interest in setting up another fertilizer factory on the model of Ghorashal Fertilizer Factory in Ashuganj, Bangladesh and financing the sugar industry. Besides, they are also interested in financing other sectors including electric meters and automobiles. 

This interest was informed during the courtesy meeting of the delegation led by JBIC Governor Hayashi Nabumitsu with Industry Minister Nurul Majid Mahmud Humayun. The courtesy call was held yesterday at the minister's office in Motijheel of the capital. The delegation also included ODA Masahiro, Principal Secretary and Adviser to the Governor of JBIC. Representative JBIC Nakano Mutsumi, Kurihara Tashihiko and others.

Chairman of Bangladesh Sugar and Food Industry Corporation. Arifur Rahman Apu, Chairman of Bangladesh Chemical Industries Corporation (BCIC). Saidur Rahman, Additional Secretary of the Ministry of Industry Sheikh Faizul Amin, Joint Secretary Mohammad Salauddin Ahmed, Mu. Anwarul Alam, Md. Abdul Wahed, Deputy Secretary Sharif. Masud was present at this time.

In the meeting, the Industry Minister said that Japan is helping us in agriculture and industry sectors in various ways. We are also working together to set up a fertilizer plant and add Mitsubishi vehicles in partnership with Pragati Industries. Japanese economic zone in Narayanganj.

He further said that we are trying to modernize the sugar industry. A large amount of land is under sugar mills. We are interested in setting up agro based food processing industry. We are working on setting up a second unit in our profitable company Keru & Company Limited. JBIC can finance all these matters. We need financing, automation, modern machinery etc.

In all these cases, the Industry Minister directed the concerned to implement Japanese-funded G2G or bilateral agreement joint investment.