BoI to support cement, steel makers to get bond facilities
Saturday, 18 August 2007
FE Report
Executive Chairman of the Board of Investment (BoI) Mushtaq Uddin Ahmad said Tuesday that his office would extend allout support to the cement and steel manufacturers for obtaining bond facilities for their imported raw materials.
"My office will support such moves and assist in obtaining bond facility for facilitating cement and steel production in the country provided there was no legal bars," BoI executive chairman said.
He was addressing a contract signing ceremony as the chief guest at a city hotel Tuesday.
BoI executive chairman also said he would take necessary steps for easy movement of skilled manpower from neighbouring countries to provide technical support to the export-oriented industries.
Niloy Cement Industries Limited organised the programme to mark the signing ceremony with Niloy Cement Clinkerisation Industries limited.
Speakers at the programme said that cement and steel export would grow once bond facility is allowed to both the sectors.
Speakers also said that the BoI should encourage local industrialists to produce clinkers locally so that the closed factories can resume their production.
The prices of the cement clinker have been on the rise over the past few months in the international market. The clearing and forwarding (C&F) price of clinker now stands at around US$ 70 per tonne.
Chairman of Nitol-Niloy Group Abdul Matlub Ahmad said that locally produced clinker would help reduce the cost of cement produced by Niloy Cement Industries by $ 5.0 to $10 each tonne.
He also said that Niloy Cement Industries would start cement export to India from January next.
Currently, around 20 cement manufacturing plants remained closed due to price hike of cement clinker in the international market, he added
Niloy Cement Clinkerisation Industries has been set up at Bashundia in Jessore by the Nitol-Niloy Group to enable cost effective production of cement.
The clinker plant, first ever in private sector followed by Chhatak Cement, a public entity and Lafarge Surma Cement, a multinational company, will use lime from Meghalaya of India to produce clinker locally.
The plant, set at a cost of Tk 200 million, will produce around 75,000 tonnes clinker yearly.
The demand for clinker in the country is around 7.0 million tonne yearly.
Deputy General Manager of Pubali Bank Shanti Ranjan Sarkar, Vice President of Premier Bank Kazi Abdur Razzaque, project director Khalequzzaman were present at the programme.
Executive Chairman of the Board of Investment (BoI) Mushtaq Uddin Ahmad said Tuesday that his office would extend allout support to the cement and steel manufacturers for obtaining bond facilities for their imported raw materials.
"My office will support such moves and assist in obtaining bond facility for facilitating cement and steel production in the country provided there was no legal bars," BoI executive chairman said.
He was addressing a contract signing ceremony as the chief guest at a city hotel Tuesday.
BoI executive chairman also said he would take necessary steps for easy movement of skilled manpower from neighbouring countries to provide technical support to the export-oriented industries.
Niloy Cement Industries Limited organised the programme to mark the signing ceremony with Niloy Cement Clinkerisation Industries limited.
Speakers at the programme said that cement and steel export would grow once bond facility is allowed to both the sectors.
Speakers also said that the BoI should encourage local industrialists to produce clinkers locally so that the closed factories can resume their production.
The prices of the cement clinker have been on the rise over the past few months in the international market. The clearing and forwarding (C&F) price of clinker now stands at around US$ 70 per tonne.
Chairman of Nitol-Niloy Group Abdul Matlub Ahmad said that locally produced clinker would help reduce the cost of cement produced by Niloy Cement Industries by $ 5.0 to $10 each tonne.
He also said that Niloy Cement Industries would start cement export to India from January next.
Currently, around 20 cement manufacturing plants remained closed due to price hike of cement clinker in the international market, he added
Niloy Cement Clinkerisation Industries has been set up at Bashundia in Jessore by the Nitol-Niloy Group to enable cost effective production of cement.
The clinker plant, first ever in private sector followed by Chhatak Cement, a public entity and Lafarge Surma Cement, a multinational company, will use lime from Meghalaya of India to produce clinker locally.
The plant, set at a cost of Tk 200 million, will produce around 75,000 tonnes clinker yearly.
The demand for clinker in the country is around 7.0 million tonne yearly.
Deputy General Manager of Pubali Bank Shanti Ranjan Sarkar, Vice President of Premier Bank Kazi Abdur Razzaque, project director Khalequzzaman were present at the programme.