Bangladesh Chemical Industries Corporation (BCIC) and Engineering Dimnesion International Investment LLC (EDII) signed a joint venture agreement titled Saudi bangle Integrated Cement Company Limited to set up a cement and clinker manufacturing factory at Chhatak in Sunamganj.
The signing ceremony was held at BCIC Bhaban in the capital on Monday, said a press release.The project is expected to start commercial operation by June 2023.
Following the visit of Prime Minister Shekh Hasina to the Kingdom of Saudi Arabia on 17th October 2018 an MoU was signed for setting up a cement and clinker manufacturing factory at Chhatak in Sunamganj.
After a detailed feasibility study by Singapore-based DG Infratech Pte. Ltd, the two institutions have finally signed the agreement to set up the project, said a press release.
The agreement was signed by Mustafizur Rahman, Chairman of BCIC, and Mohammad Najeeb M, President and CEO of EDII virtually.
EDII’s Country Representative Golam Mostafa and other officials led by Yaseer Mahmud were present at the signing ceremony. Senior officials from the ministry of industries of the government and BCIC were also present on the occasion.
The representative of DG Infratech Pte. Ltd., Singapore, Syed Javed Iqbal was also present.Driven by the favorable economic conditions in Bangladesh for its cement industry, a group of Saudi investors and BCIC agreed to move ahead with the plan of setting up an integrated cement manufacturing plant with state-of-the-art technology.
The production capacity of the proposed plant will be 12,000 tonnes of clinker and 3,000 tonnes of cement per day based on supply of limestone from the neighboring state of Meghalaya in India through a long conveyor belt.