Banks urged to provide shipbuilding sector easy access to loan
Thursday, 25 December 2008
FE Report
Adviser to the Ministry of Commerce Hossain Zillur Rahman Tuesday said the commercial banks should give the ship building sector easy access to loan to ensure smooth growth of the emerging industry.
The commerce adviser said shipbuilding industry would help turning Bangladesh into a middle income country in the near future since the country has all the infrastructures, required for the industry to grow, said a press release.
"I firmly believe the shipbuilding sector will flourish further banking on our skilled manpower, natural infrastructures and following of international standard as well," said Hossain Zillur while inaugurating the keel-laying of 12 ships at the shipyard of Western Marine Shipyard Limited at Koalgaon Union under Patiya Upzilla in Chittagong as the chief guest.
After the inauguration, the commerce adviser along with the other guests visited the shipyard to see its shipbuilding facilities.
Earlier, Western Marine Limited, Bangladesh's leading Shipbuilding Company received an order worth $130 million (Tk 9.0 billion) from a German shipping company--Grona Shipping, to build 12 ships, each with a capacity of 5,200 tons. The ships are expected to be delivered to the German firm by 2011.
Two local banks-- AB Bank limited and City Bank Limited-- are financing the Western Marine to build the ships, a milestone in the history of domestic shipbuilding industry.
In his welcome speech, Chairman of Western Marine Shipyard Ltd Mr Saiful Islam urged the government to come forward to help the sector gaining strong foothold in the competitive global shipbuilding market.
"Country's shipbuilding industry is growing rapidly in the international market through proper utilization of skilled manpower. But we need the support from the government to feel our presence strongly in the global market," said Saiful Islam at the programme.
He noted that the shipbuilding industry would be able to take a respectable position in the international market if adequate funds, infrastructural development and lands are made available along with combined effort from all quarters to develop human resources in the sector.
Mr. SK Motahar Hossain, Secretary of the Ministry of Shipping, Ms Bea M. Ten Tusscher, Ambassador of the Netherlands, Mr. Frank Meyke, Ambassador of Germany, and Kaiser A Chowdhury, President and Managing Director of AB Bank Limited were also present at the keel-laying ceremony as special guests.
Sprawling over a 20 -acre of land near Shikalbaha Power Plant at Kolagaon Union under Patiya Upazila, the Western Marine, aiming to take the domestic ship building industry to new heights, has received 'World Maritime Day Award 2007' in recognition of its contribution to ship building industry in the country.
Adviser to the Ministry of Commerce Hossain Zillur Rahman Tuesday said the commercial banks should give the ship building sector easy access to loan to ensure smooth growth of the emerging industry.
The commerce adviser said shipbuilding industry would help turning Bangladesh into a middle income country in the near future since the country has all the infrastructures, required for the industry to grow, said a press release.
"I firmly believe the shipbuilding sector will flourish further banking on our skilled manpower, natural infrastructures and following of international standard as well," said Hossain Zillur while inaugurating the keel-laying of 12 ships at the shipyard of Western Marine Shipyard Limited at Koalgaon Union under Patiya Upzilla in Chittagong as the chief guest.
After the inauguration, the commerce adviser along with the other guests visited the shipyard to see its shipbuilding facilities.
Earlier, Western Marine Limited, Bangladesh's leading Shipbuilding Company received an order worth $130 million (Tk 9.0 billion) from a German shipping company--Grona Shipping, to build 12 ships, each with a capacity of 5,200 tons. The ships are expected to be delivered to the German firm by 2011.
Two local banks-- AB Bank limited and City Bank Limited-- are financing the Western Marine to build the ships, a milestone in the history of domestic shipbuilding industry.
In his welcome speech, Chairman of Western Marine Shipyard Ltd Mr Saiful Islam urged the government to come forward to help the sector gaining strong foothold in the competitive global shipbuilding market.
"Country's shipbuilding industry is growing rapidly in the international market through proper utilization of skilled manpower. But we need the support from the government to feel our presence strongly in the global market," said Saiful Islam at the programme.
He noted that the shipbuilding industry would be able to take a respectable position in the international market if adequate funds, infrastructural development and lands are made available along with combined effort from all quarters to develop human resources in the sector.
Mr. SK Motahar Hossain, Secretary of the Ministry of Shipping, Ms Bea M. Ten Tusscher, Ambassador of the Netherlands, Mr. Frank Meyke, Ambassador of Germany, and Kaiser A Chowdhury, President and Managing Director of AB Bank Limited were also present at the keel-laying ceremony as special guests.
Sprawling over a 20 -acre of land near Shikalbaha Power Plant at Kolagaon Union under Patiya Upazila, the Western Marine, aiming to take the domestic ship building industry to new heights, has received 'World Maritime Day Award 2007' in recognition of its contribution to ship building industry in the country.