The government has planned to build the country's biggest-ever urea fertilizer factory in Narsingdi with the annual production capacity of 9.24 lakh metric tonnes, said a senior official.
"It'll be a modern, sophisticated, energy-efficient and environment-friendly green fertilizer factory," the Industries Ministry official told UNB.
The government envisages exporting urea after meeting domestic demand after implementation of the mega project.
The project titled 'Ghorasal Polash Urea Fertilizer Project (GPUFP) will be implemented at the place of existing two very old fertilizer factories -- Urea Fertilizer Factory Ltd (UFFL) and Polash Urea Fertilizer Factory Ltd. (PUFFL).
Once implemented, the factory will produce 2,800 metric tonnes of Granular Urea a day, which is about three times higher than that of the existing two fertilizer factories, another official at the Bangladesh Chemical Industries Corporation (BCIC) told UNB.
Mitsubishi Heavy Industries Ltd. (MHI), Japan and China National Chemical Engineering No. 7 Construction Co. Ltd. (CC-7), China consortium is the contractor of this project.
This project will be implemented through 'Bidder Financing' process, spending Tk 10,460.91 crore.
Of the amount, the government will provide Tk 1,844.19 crore while the rest of the amount, Tk 8,616.72 crore, will come as commercial loan.
"Hope, the project will be implemented maintaining the highest standard and using world-class environment-friendly green technology," said the BCIC official.
Since Japan is the technology leader of the world, he said, this project will add a new feather to the crown of Japanese innovation and technological reputation.
Other officials said an agreement on 'Ghorasal Polash Urea Fertilizer Project (GPUFP)' among BCIC and Mitsubishi Heavy Industries Ltd (MHI), Japan and China National Chemical Engineering Construction Co. Ltd. (CC7) will be signed on Wednesday.
Earlier, Prime Minister Sheikh Hasina had directed the Industries Ministry to build a modern urea fertilizer factory replacing the old two ones.
Later, this month, the Executive of the National Economic Council (Ecnec) approved a proposal for setting up Ghorashal Palash Urea Fertiliser Factory at a cost Tk 10,460 crore which will be completed by 2022.
Currently, Shahjalal Fertiliser Factory in Fenchuganj of Sylhet is the country's biggest fertilizer factory having the production capacity of 5.81 metric tonnes.