Bashundhara Industrial Complex, Meghna Cement sign MoU with China’s Guangxi Yufeng

Bashundhara Industrial Complex Limited (BICL) and Meghna Cement Mills PLC (MCMPLC) have signed a memorandum of understanding (MoU) with China's Guangxi Yufeng Co Ltd to explore technology transfer and strategic investment in the cement sector.

The agreement was signed at a ceremony held at Bashundhara SuperGolf in capital's Bashundhara residential area on Wednesday under the theme “Bangladesh & China: Building the Future Together”.

Under the agreement, Guangxi Yufeng will provide investment and technological support to BICL and MCMPLC. The three companies will also explore opportunities for sharing technical expertise and transferring cement-related technology.

Safwan Sobhan, Chairman of Safwan Bashundhara Global, represented BICL and MCMPLC at the signing ceremony. He signed the agreement alongside Lei Zhenbin, chairman of Yufeng Cement.

Shahed Zahid, Chief Operating Officer of Safwan Bashundhara Global, attended the event along with other officials of the organisation.

He said the partnership could help improve supply chain management amid market volatility, disruptions to shipping routes and supply chain problems caused by wars around the world.

He said they also hoped to learn from the Chinese company’s expertise to improve their own technologies and make production processes more efficient.

The Chinese delegation included Lei Zhenbin, chairman of Yufeng Cement; Deng Yucong, assistant to the general manager; and Deng Yulian, deputy chief engineer, among others.

Lei Zhenbin said Yufeng Cement was one of China's oldest and largest cement manufacturers, with an integrated supply chain and advanced manufacturing technology.

“Yufeng Cement is very grateful for this opportunity to cooperate with Safwan Bashundhara Global in changing and building the cement industry in Bangladesh together,” he said, expressing hope that the partnership would help strengthen ties between Bangladesh and China.

According to the MoU, the companies will continue discussions to finalise the scope of the proposed investment and determine the steps needed to implement the partnership. 

The agreement also reflects their shared interest in strengthening business ties between Bangladesh and China, and supporting the development of Bangladesh's cement industry.

According to the MoU, the companies expect the partnership to create opportunities for technology transfer, knowledge sharing and strategic investment, supporting the development of Bangladesh's cement sector.

Other guests at the ceremony were Yee Zhenhong, general manager of Sino BD Energy Pvt Ltd; Qin Yanxiong, chairman; and Wei Guanghai, chairman of Guangxi Yuanhai Mines Group.