Kafco plans to set up 2nd unit; Japan, Denmark to finance US$ 1bn
Dhaka, May 3 (UNB) – Karnaphuli Fertiliser Company Limited (Kafco) on Thursday proposed to set up its second unit spending US$ 1 billion with a production capacity of 12 lakh metric tonnes of urea a year.
The new unit will be set up under public private partnership (PPP) with financial support from Japan and Denmark. Once implemented, the unit is expected to produce 3,500 metric tonnes of urea a day on average.
Kafco high officials put forward the proposal at a meeting with Industries Minister Dilip Barua at his Shilpa Bhaban office.
Kafco chairman and Industries Secretary KH Masud Siddiqui, Bangladesh Chemical Industries Corporation (BCIC) chairman Golam Robbani, additional Industries Secretary ABM Khorshed Alam, Kafco chief executive officer Salahuddin Ahmed, chief financial officer Dr Dunn, general manager (marketing) NAM Mobayeduzzaman and senior officials of the Industries Ministry were present.
Members of the Kafco governing body handed over a cheque for Tk 69, 57,94,715 as the third interim dividend for the year 2011-2012 to Industries Minister at the meeting. With this, Kafco handed over dividend worth Tk 248,49,81,125 in three installments for the 2011-2012 fiscal year to the government through BCIC.
During the meeting, both parties decided to sign a memorandum of understanding (MoU) soon after the approval to set up the Kafco second unit.
The Kafco officials said Bangladesh would be benefited economically if the Kafco second unit is set up. They also said it would help cut fertiliser import and strengthen food security in the country.
Welcoming the Kafco proposal, Dilip Barua said the grand alliance government is determined to set up more fertiliser factories in the country and hoped that the proposed second unit of Kafco will help cut fertiliser import significantly. Â
He said steps would soon be taken in this regard after the signing of the MoU for setting up the new Kafco unit.
The new unit will be set up under public private partnership (PPP) with financial support from Japan and Denmark. Once implemented, the unit is expected to produce 3,500 metric tonnes of urea a day on average.
Kafco high officials put forward the proposal at a meeting with Industries Minister Dilip Barua at his Shilpa Bhaban office.
Kafco chairman and Industries Secretary KH Masud Siddiqui, Bangladesh Chemical Industries Corporation (BCIC) chairman Golam Robbani, additional Industries Secretary ABM Khorshed Alam, Kafco chief executive officer Salahuddin Ahmed, chief financial officer Dr Dunn, general manager (marketing) NAM Mobayeduzzaman and senior officials of the Industries Ministry were present.
Members of the Kafco governing body handed over a cheque for Tk 69, 57,94,715 as the third interim dividend for the year 2011-2012 to Industries Minister at the meeting. With this, Kafco handed over dividend worth Tk 248,49,81,125 in three installments for the 2011-2012 fiscal year to the government through BCIC.
During the meeting, both parties decided to sign a memorandum of understanding (MoU) soon after the approval to set up the Kafco second unit.
The Kafco officials said Bangladesh would be benefited economically if the Kafco second unit is set up. They also said it would help cut fertiliser import and strengthen food security in the country.
Welcoming the Kafco proposal, Dilip Barua said the grand alliance government is determined to set up more fertiliser factories in the country and hoped that the proposed second unit of Kafco will help cut fertiliser import significantly. Â
He said steps would soon be taken in this regard after the signing of the MoU for setting up the new Kafco unit.
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