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Govt to sign 5 deals with Saudi cos for power, cement plants

Govt to sign 5 deals with Saudi cos for power, cement plants

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The government plans to sign final deals with Saudi companies for five separate projects  in chemical, engineering and solar power sectors by next month, said officials in the ministry.

The government has already signed memorandum of understandings (MoU’s) for implementing the projects during Prime Minister Sheikh Hasina’s visit to Saudi Arabia in October last.

According to official sources, representatives of the two Saudi Arabian companies---the Alfanar Company and the Engineering Dimensions----have already visited Bangladesh to sign three separate deals for implementing a cement plant, transformer and solar plants by December last year.

But they could not sign the deals because of the national elections that held on December 30, last year.

The Saudi Alfanar Company has proposed to set up the cement factory at the existing site of Chatak Cement factory in Sylhet. Besides, it proposed to sign another deal for implementing a 100MW solar based power plant at Karnaphuli Paper Mill Ltd operated by Bangladesh Chemical Industries Corporation (BCIC).

The authorities concern also requested the Saudi firms to finilise the deals within January or February, 2019 as they failed to sign the deal earlier due to the national elections.

Another Saudi firm, the Engineering Dimensions, has also proposed to set up a transformer plant at the abandoned land of JAMCO company under BCIC.  They are interested to set up their plant by renovating the workshop and sheds of JAMCO, official sources said. The company also showed interested for new investment to construct their factory at the unused land of JAMCO.

Several Saudi companies have also expressed their interest to visit Bangladesh next month for finilising deals for setting up a DAP plant in Bangladesh, official sources also said.

Preme Minister’s SDG affairs adviser Md Abul Kalam Azad at a meeting at the Prime Minister’s Office in December last asked the ministries concerned for taking necessary steps for singing the projects.