China to provide $230m for Shahjalal Fertiliser Factory

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Monira Munni
The Chinese government has agreed to provide a soft loan of $230 million for setting up the proposed Shahjalal Fertiliser Factory, one of the two mega fertiliser projects, officials said Thursday.
The project worth Tk 53.18 billion (5,318 crore) would be implemented in the Natural Fertiliser Factory area of Fenchuganj in Sylhet.
To pursue the growing demand for the soil nutrient, Bangladesh Chemical Industries Corporation took the initiative to build the two fertiliser factories a few years ago.
"We will sign a Memorandum of Understanding (MoU) with the Chinese government this month on the funding," Industries Minister, Dilip Barua told the FE.
A high-powered delegation headed by the Prime Minister Sheikh Hasina will visit China on March 17.
Talking to the FE, the minister expressed his hope that China will also provide the remaining amount.
Of the total project cost, Tk 10.68 billion (1,068 crore) would be provided by the government and Tk 42.50 billion (4,250 crore) to come from foreign aid, the officials added.
The project would be completed by 2013. The factory would have a production capacity of nearly 1,750 metric tons of fertiliser every day and 0.5 million (5 lakh) metric tons of urea fertiliser a year.
They said that environment-friendly and energy-efficient technologies would be adopted in setting up the two planned fertiliser factories.
Officials said the process is on to woo more foreign assistance for the proposed Tk 54.92 billion (5,492 crore) North West Fertiiliser Project in Sirajganj.
Of the total project cost, Tk 12.42 billion (1242 crore) would be provided by the government and Tk 42.50 billion (4,250 crore) to come from foreign aid.