The construction of the country’s largest fertilizer factory, Ghorasal Polash Urea Fertilizer Factory, is expected to go production by October, 2023.
Mitsubishi Heavy Industries Limited (MHI) and China National Chemical Engineering No 7 Construction Co Ltd (CC-7) are jointly constructing the factory, which will have an annual production capacity of 9.24 lakh metric tons.Bangladesh Chemical Industries Corporation (BCIC) under the Industries Ministry is implanting the project at a cost of around Taka 10,460.91 crore or US$ 1,245.35 million, by availing the finance as loan from three foreign financial institutions.
Of the total cost, Taka 1,844.19 crore or $219.55 million is coming from the government exchequer while the rest of the amount, Taka 8,616.72 crore or $1,025.80 million, is coming from Japan Bank for International Cooperation (JBIC), Bank of Tokyo-Mitsubishi UFG Limited (MUFG) and the Hongkong and Shanghai Banking Corporation Limited (HSBC) as commercial loan.
Talking to BSS, State Minister for Industries Kamal Ahmed Mojumder said after completing the construction of Ghorasal Polash Urea Fertilizer Factory, it will be the largest factory in the country’s industrial sector.
“Through implementation of the project, BCIC will get opportunity to play more significant role in the country’s development. Moreover, the project will change the living standard of the local people. The project will create huge number of employment opportunities,” he added.
He informed that the new fertilizer factory, once implemented, will be “modern, sophisticated, energy efficient and green” fertilizer factories in the country which will help the country reduce the import of urea fertilizer and save hard-earned foreign currency.
Kamal Mojumder said the government has a plan to produce some 2,800 metric tons of granular urea a day in Ghorasal Polash Urea Fertilizer Factory, which is being constructed at the place of the existing two fertilizer factories — Urea Fertilizer Factory Limited (UFFL) and Polash Urea Fertilizer Factory Limited (PUFFL).As per the government plan, he said, the production capacity per day will be about three times higher than that of the existing two fertilizer factories.
Explaining further the environmental issues, Kamal Mojumder said it is the first fertilizer factory in Bangladesh where the environmental pollutant Carbon-Di-Oxide (CO2) will be captured from the primary reformer flue gas and the production of urea fertilizer will be increased (about 10pc ) by using the captured CO2.
Responding to a question, a senior official of the project informed that many activities of the project are already going on and they spent Taka 2,983.83 crore in the last financial year.
The official said the factory will also help bring huge benefits indirectly for the economy alongside saving of yearly approximate Taka 1,075.39 crore in foreign currency.
The new fertilizer factory will ensure the availability of urea fertilizer to the farmer at a lower cost and meet up the growing urea fertilizer demand in the country and thereby ensuring food security of the country, the official added.