Photo: Courtesy
Metropolis Report –
Foreign Minister of Bangladesh Dr A K Abdul Momen MP lauded the role of Saudi Arabia’s King Salman bin Abdulaziz and Prime Minister Crown Prince Mohammed bin Salman in strengthening relations between Bangladesh and Saudi Arabia in multiple sectors.
Dr. A K Abdul Momen expressed this view when Saudi Deputy Interor Minister Dr. Nasser bin Abdulaziz Al Dawood called on him at State Guest House on Saturday.
Stating the warm relations between Dhaka and Riyadh, Momen said bilateral relations between the two counties will reach a new height in the days to come.
Saudi Deputy Minister highly appreciated the role of the government under the prudent leadership of Prime Minister Sheikh Hasina in ensuring steady economic development of Bangladesh over the years.
He said Bangladesh has sustained steady economic growth overcoming the impact of the corona pandemic during 2020-21 period.
The Deputy Minister briefed Foreign Minister about the interest of Saudi Arabia for closer security cooperation between Bangladesh and Saudi Arabia for common mutual interests.
Foreign Minister mentioned that Bangladesh government is working closely with Saudi Arabia in strengthening cooperation in trade and investments, security, education and culture, power and energy, civil aviation and tourism.
Foreign Minister told him that Bangladesh government and people are waiting to welcome crown prince and Prime Minister of Saudi Arabia to Bangladesh soon.
Foreign Minister expressed his satisfaction that both sides would sign two important agreements on security cooperation and Route to Meeca service which would consolidate relations between the two countries.
Under route to Makkah Service Agreement Pilgrims/ Hajis would be able to complete their immigration in Dhaka prior their departure to Saudi Arabia. Bangladesh is the first country with whom Saudi Arabia going to sign Route to Makkah service agreement considering excellent relations between Bangladesh and Saudi Arabia.
Meanwhile, 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
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 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 Business Standard at his Dilkusha office said a company was formed in 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.
