The Financial Express

Two foreign banks to help modernise BSFIC mills

FE REPORT | Published: January 25, 2020 11:00:20 | Updated: January 27, 2020 11:15:30

File photo (Collected) File photo (Collected)

Two foreign banks agreed to provide financing for modernisation of state-owned sugar mills.

The high-ups of the Japan Bank for International Co-operation (JBIC) and the Exim Bank of Thailand (EBT) conveyed their interest in the financing during a meeting with Industries Minister Nurul Majid Mahmud Humayun in Bangkok, Thailand on Thursday.

The meeting was held at the head office of EBT in Bangkok, according to the Ministry of Industries (MoI).

Director General of JBIC Naomi Tamaki, president of EBT Pisit Serewiwattana, director of JBIC Yoshio Okawa and vice-president of EBT Kaniknun Ramingwong and chairman of Bangladesh Sugar and Food Industries Corporation (BSFIC) Ajit Kumar Paul among others were present during the meeting.

The meeting also discussed a technical proposal of Sutech Engineering Company Ltd of Thailand.

The high-ups of JBIC and EBT expressed satisfaction about the technical proposal of the Thai company.

And following the proposal they agreed to provide the financing for modernisation and product diversification of the state-run sugar mills.

The industries minister requested the banks' officials to provide a combined proposal to the government of Bangladesh or MoI.

He said the government of Bangladesh will take the final decision after scrutinising their combined proposal.

He assured them (bank officials) that the Bangladesh government would extend allout cooperation if they invest in the sector.


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