Md Mizanur Rahman Himadri –
Bangladesh has sought increasing cooperation of Kingdom of Saudi Arabia in various development projects as the KSA is an important development partner of the country.
Economic Relations Division Secretary of Bangladesh Sharifa Khan expressed this view while holding a meeting with Chief Executive Officer (CEO) of the Saudi Fund for Development Sultan Al-Marshad at the latter’s office in Riyadh on the sidelines of the 14th meeting of Bangladesh-Saudi Arabia Joint Commission (JC).
The previous thirteenth Joint Economic Commission (JEC) meeting between Bangladesh and Saudi Arabia was held on February 12-13, 2020 in Dhaka
Sharifa Khan said Saudi Arabia’s Crown Prince Mohammed bin Salman, also Prime Minister of the kingdom, will visit Bangladesh next year that will help reach the bilateral relations between two countries to new height.
Saudi Arabia’s Crown Prince Mohammed bin Salman has been named the kingdom’s prime minister in a cabinet reshuffle ordered by King Salman bin Abdulaziz Al Saud.
Meanwhile, in the meeting held on 30-31 October, Saudi Arabia and Bangladesh agreed to form a task force to increase coopereation in the energy sector.
The Saudi government has assured Bangladesh of assistance when Bangladesh requested Saudi Arabia to increase LNG supply on an emergency basis and invest in the Eastern Refinery Unit-2 project.
The two countries also reached an understanding regarding the signing of an agreement to recruit Bangladeshi healthcare professionals in Saudi Arabia.
The countries also reached an understanding regarding increasing cooperation in all aspects of science and education.
Bangladesh also discussed with representatives of Saudi Arabia about investment proposal of ACWA’s 1000 megawatt solar power project and setting up 730 megawatt gas based power project
Meanwhile, Saudi Arabia’s energy giant, ACWA power, will set up an LNG-based 3,600 MW plant in Bangladesh after an agreement was signed in Dhaka in October 17, 2019.
The MoU was signed by ACWA Chairman Mohammed Abunayyan and officials from the Bangladesh Power Development Board (BPDB), officials told Arab News on Monday.
According to the agreement, ACWA will invest $3 billion in Bangladesh’s energy development sector, of which $2.5 billion will be used to build the power plant while the rest will be spent on an LNG terminal to facilitate fuel supply to the plant. Under the deal, ACWA will also set up a 2 MW solar power plant.
Meanwhile, the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and the Federation of Saudi Chambers of Commerce have signed a memorandum of understanding (MoU) at the 14th meeting of the Bangladesh-Saudi Arabia Joint Commission to form a joint business council aiming to boost trade between the two countries.
FBCCI Vice President Habib Ullah Dawn and Saudi Chambers Vice President Tariq al-Haidari signed the MoU on behalf of their respective organisations.
Besides, the shipping ministry of Bangladesh and the transport ministry of Saudi Arabia signed an MoU to increase cooperation in different areas including recruiting and training the two countries’ ship workers.
Bangladesh Ambassador to Saudi Arabia Mohammad Javed Patwari and Saudi Arabia’s Maritime Transport Deputy Abdul Rahman M Al-Thunayan on behalf of their respective countries.
Meanwhile, though Saudi Arabia has sent several investment proposals to Bangladesh valued at over 4,000 million US dollars (4.00 billion US dollars) to invest in different projects, only one cement project valued 600 million US dollars has got moment during the last couple of years, sources said…..
Bangladesh is eager about the KSA’s investment, especially in the electricity and energy sector since the country is going power crisis against the backdrop of energy crisis, aggravated by Russia-Ukraine conflict since February 24, 2022
Sources said Engineering Dimension (ED), a Saudi company with GEMCO, an enterprise under the Bangladesh Steel Engineering Corporation in Chattogram has proposed to invest some 15.00 million with no progress in sight.
KSA company ACWA Power signed an MOU with Bangladesh Sugar and Food Industries Corporation (BSFIC) to produce solar IPP 100 megawatt at Natore with an investment proposal valued at 100 million US dollars.
Red Sea Gateway Terminal also sent a proposal valued at 300–1500 million US dollars with Chattgram Port Authority to develop bay terminal project under public partnership project (PPP).
KSA company Alafalaq Group submitted a letter of intent to the Bangladesh Sugar and Food industries Corporation (BSFIC) with an investment proposal valued at 15-35 million US dollars
Al-Jomaih has sent a proposal to Bangladesh Sugar and Food industries Corporation (BSFIC) to develop solar IPP 300 megawatt in Gaibandha and Dinajpur with an investment proposal worth 600-900 million US dollars.
Hanwah Saudi Arabia Limited has signed an MOU with Bangladesh Chemical Industries Corporation (BCIC) to set up a DAP plant either in Morocco or Kingdom of Arabia with an investment of 700-900 million US dollars.
Finally the process of setting up of a clinker-cement plant under the Saudi-Bangladesh joint investment at Chhatak in Sunamganj has got momentum after corona pandemic delayed the process of the project, officials concerned said.
The investment has been revised to 600 million US dollars as of now with Engineering Dimensions International Investment (EDII) owning 60 per cent of the share with BCIC owning rest 40 per cent.
Meanwhile, the Bangladesh Chemical Industries Corporation (BCIC) on 30 June, 2020 signed a joint enture agreement with Saudi firm Engineering Dimensions International Investment (EDII) LLC to set up a cement plant with an investment proposal of 321 million US dollars next to the Chhatak cement factory in Sunamganj.
Engineering Dimensions (ED) will have a production capacity of 15,000 tonnes of clinker-cement per day
The production capacity of the proposed plant will be 12,000 tons of clinker and 3,000 tons of cement per day based on supply of limestone from the neighboring state of Meghalaya, India, through a long conveyor belt. The construction of a conveyor belt is going ahead, said a BICI official.
If everything goes as per plan, the cement manufacturing unit will be built on more than 160 acres of land next to the existing state-run Chhatak Cement Factory, sources said.
A senior BCIC official while talking to the daily at his Dilkusha office said a company was formed June 2021.
The project will cater to the demand of the clinker-based cement factories in Bangladesh by supplying four million tons of clinker per annum against the country’s import of nineteen million tons per annum and save US Dollar 225 million in foreign exchange annually.
Earlier, during Prime Minister Sheikh Hasina’s visit to Kingdom of Saudi Arabia in October, 2018, a MoU was signed to set up a cement and clinker manufacturing factory in Chhatak, Sunamganj.
After a detailed feasibility study by Singapore-based DG Infratech Pvt Ltd, the two institutions have finally signed the agreement to set up the project, the release said.
