JBIC to invest in Bangladesh’s sugar and fertilizer industries

The Japan Bank for International Cooperation (JBIC) has expressed interest in investing in Bangladesh’s sugar industry and developing a fertilizer factory comparable to Ghorashal town, Narsingdi’s Palash upazila. They have also shown interest in funding industries for electric meters and vehicles.

JBIC Governor Hayashi Nobumitsu notified Industries Minister Nurul Majid Mahmud Humayun of their interest in the latter’s office in Motijheel, Dhaka. Among those in attendance were Md Arifur Rahman Apu, chairman of the Bangladesh Sugar and Food Industries Corporation, Md Saidur Rahman, chairman of the Bangladesh Chemical Industries Corporation, and Sheikh Faezul Amin, assistant secretary of the industries ministry.

Humayun stated that they are attempting to modernize the sugar sector. Sugar mills cover a significant area of land. As a result, we are interested in establishing agro-based food processing enterprises. Throughout the years, Japan has aided Bangladesh in agriculture and manufacturing in several ways. The minister indicated that they are working on creating a second unit of Carew & Co (Bangladesh) Ltd and are seeking JBIC help.

JBIC can fund all aspects of this project as they require money, automation, and new machinery, among other things. Humayun also requested that Japanese-financed government-to-government or bilateral agreement collaborative investments be implemented as soon as practicable.



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