BFIDC, Saudi co ink MoU to set up furniture factory

The government signed on Monday a memorandum of understanding (MoU) with a Saudi company to set up a state-of-the-art furniture factory at Kalurghat in Chattogram involving a cost of US$ 30 million.

Bangladesh Forest Industries Development Corporation (BFIDC) and Engineering Dimensions (ED), a renowned business organisation of Saudi Arabia, signed the MoU at the Ministry of Environment, Forest and Climate Change (MoEF&C) in the capital.

BFIDC, which is under the ministry of MoEF&C, will supply raw materials to the proposed factory. Rubber trees with over 25 years of age will be used as raw materials for producing furniture in the factory.

The furniture will be exported to the KSA and other Middle Eastern countries or Gulf Cooperation Council.

As per the MoU, the BFIDC will get the share of profits proportionately from the export proceeds.

After signing of the MoU, environment minister Md Shahab Uddin said the furniture factory will create employment.

The BFIDC has 17 rubber gardens on 36,654 acres of land in Chattogram, Sylhet, Tangail and Sherpur districts.

Usually a rubber tree maintains its usefulness for at least 25 years, and after that period it gradually losses capacity for rubber production, according to officials.

talhabinhabib@yahoo.com