The government on Wednesday signed an agreement with Chinese and Japanese companies to build the country's biggest-ever urea fertiliser factory in Narsingdi with the annual production capacity of 9.24 lakh metric tonnes.
Mitsubishi Heavy Industries Ltd. (MHI), Japan senior vice president Hajime Nagano and China National Chemical Engineering No 7 Construction Co Ltd (CC-7) China Chief Executive Officer Wang Da Lin and Bangladesh Chemical Industries Corporation (BCIC) Chairman Shah Md Aminul Haq signed the agreement on behalf of their respective sides.
Industries Minister Amir Hossain Amu and Japanese Ambassador in Dhaka Hiroyasu Izumi witnessed the signing that took place at a city hotel.
The project titled 'Ghorasal Polash Urea Fertiliser Project (GPUFP)' will be implemented at the place of the existing two very old fertiliser factories -- Urea Fertiliser Factory Ltd (UFFL) and Polash Urea Fertiliser Factory Ltd (PUFFL), reports UNB.
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 fertiliser factories.
This project will be implemented through 'Bidder Financing' process, spending Tk 104.6091 billion (Tk 10,460.91 crore).
Of the amount, the government will provide Tk 18.4419 billion while the rest of the amount, Tk 86.1672 billion, will come as commercial loan.
Officials said the project will be implemented maintaining the highest standard and using world-class environment-friendly green technology.
Earlier, Prime Minister Sheikh Hasina had directed the Industries Ministry to build a modern urea fertiliser 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 which will be completed by 2022.
Currently, Shahjalal Fertiliser Factory in Fenchuganj of Sylhet is the country's biggest fertiliser factory having the production capacity of 5.81 metric tonnes.
