Bangladesh Economy: News & Updates

[fallstuff]

New project to develop variety of jute

Wednesday, 25 August 2010 22:39

http://www.theindependentbd.com/business/finance/6452-new-project-to-develop-variety-of-jute.html

New project to develop variety of jute
UNB, Dhaka

Inspired by the genome sequencing of Jute in Bangladesh, the government has undertaken a project to develop natural adversity tolerant variety of jute as well as developing its high yielding line and variety.

The project titled 'Basic and Applied Research on Jute' was approved at the Executive Committee of the National Economic Council (ECNEC) meeting on Tuesday with Prime Minister Sheikh Hasina in the chair. The total cost of the project was estimated at Tk 66 crore to be entirely borne by the national exchequer. Agriculture Ministry is the lead agency while Bangladesh Jute Research Institute (BJRI) is the implementing agency of the project. The tenure of the project is September 2010 to August 2013.

According to Planning Ministry sources, the project activities also include updating the draft genome information of tosha variety of jute and utilizing necessary genes to innovate a variety enable to adapt with changing environment, innovation and analysis of genome sequence of local variety to have advance knowledge about the necessary genes and innovate sequence information of different molecules relating to jute rotten.

The project objectives also include evaluating the germplasms of jute preserved at the gene bank of BJRI to separate the necessary genes and to create a platform for research on genome in Bangladesh.

The ECNEC meeting sources said that the Prime Minister has thanked the Agriculture Ministry and the Planning Commission to process such an important project speedily.

She also directed the authorities concerned to maintain the secrecy of the research activities of the project.

It was learnt that two committees-project steering committee and project implementation committee-have been formed for its successful implementation.

The 13-member steering committee is headed by the Agriculture Secretary while the nine-member implementation committee is headed by the Director General of BJRI.

On completion of the project, the farmers would be able to produce jute with less cost as well as gain much more profit which is expected to create more employment opportunities, said Planning Ministry sources.

The project area covers the main office of BJRI in city's Tejgaon, Manikganj sadar and Rangpur sadar.

Bangladeshi researchers led by Dr Maqsudul Alam have successfully decoded the jute plant genome opening up a new vista in the development of variety of the world's most adorned biodegradable natural fibre in June.

With the successful sequencing of jute genome, Bangladesh becomes only the second country after Malaysia, among the developing nations, to achieve such a feat.
Researchers from Dhaka University, Bangladesh Jute Research Institute and Software Company DataSoft in collaboration with Centre for Chemical Biology, University of Science, Malaysia and University of Hawaii, USA have decoded the genome.

 

[fallstuff]

Robust increase in RMG shipments to 10 new markets


The fiscal year 2009-10 was a critical period for Bangladeshi garment exporters who suffered from the impacts of global recession, struggling to sustain in their major and traditional markets where imports declined or did not grow.
But interestingly, several new markets that opened up in that critical period raised hopes to local exporters, industry analysts said.
A robust increase in shipments to these new these markets helped this major export earning sector to retain at least a small growth in the last fiscal year.
The latest report of the Export Promotion Bureau showed that garment shipments, in terms of value, declined or saw insignificant growths over the year in the major traditional markets.
Shipments to USA, the number one market for Bangladeshi apparels, declined by 1.6 per cent to $3.63 billion and shipments to Germany amounted $2 billion with minus 5.6 per cent growth.
But shipments to UK increased by only 3 per cent to $1.26 billion, France 1.8 per cent to $970 million and to Canada shipments amounted $596 million with only 1.5 per cent growth.
Shipments to Italy amounted worth $541 million with only 3.4 per cent growth but shipments to Spain saw minus 4.6 per cent growth and amounted worth $521 million.
Declined or insignificant growth of exports to major markets mainly pulled down the overall growth in garment export earnings to a disappointing 1.5 per cent in the last fiscal year.
Garment export earnings, which ensure nearly four-fifths of the country�s entire export proceeds, had been recorded at 11 per cent and 16 per cent growths respectively in the previous two fiscal years.
Industry watchers now say that garment shipment growth in 2009-10 fiscal could have been definitely minus if shipments to some new markets could not be ensured.
The EPB report shows that Bangladesh garment exports to Turkey increased by 28 per cent in the year to $306 million, to Japan 134 per cent to $174 million and to Australia shipment increased by 84 per cent to $85 million.
According to South African official statistics, Bangladesh garment shipments to that country amounted worth $48 million in 2009 calendar year, up nearly five per cent from 2008 and more than double the shipment in 2007.
Garment shipments to China and Hong Kong increased by 41 per cent to $45 million, Brazil 15 per cent to $45 million, Saudi Arabia 29 per cent to $22 million, South Korea 306 per cent to $22 million, India 18 per cent to 13 million, New Zealand 263 per cent to $10.5 million and garment shipments to Taiwan doubled in the year to $ 5 million.
According to EPB records, there had been very insignificant presence of Bangladeshi garments in those new markets even three to five years back.
�At least 10 new markets including Turkey, Japan and Brazil are making us much hopeful as growth in shipments there is very high,� said BGMEA president, Abdul Salam Murshedy.
Murshedy said exporters were quite serious now to explore new markets. �Although volume of shipments still remains very tiny there, compared with our traditional markets, local exporters have been welcoming the buyers from the new markets, even showing flexibility in supplying their smaller orders,� he said.
Mostafizur Rahman, executive director of the Centre for Policy Dialogue, said the local exporters became serious to explore new markets after they started facing troubles in traditional big markets like USA and EU during the recession.
Anwarul Alam Chowdhury Parvez, chairman of leading export house Evince Group, said importers from new markets became interested to make deals with Bangladeshi suppliers in recent times.
�Japanese are thinking to reduce their dependence on China and Turkey is looking for cheaper souring destinations as rising cost of garment production in their country put their brands and apparel exporters into difficulty� Many such external factors are helping Bangladesh,� Parvez said.
Both Rahman and Parvez foresee that Bangladesh garment sector would find a huge export markets in the next few years if the industry can keep up confidence of the importers.

Link:

Business

 

[fallstuff]

Aftab Bahumukhi Farms receives Rising Star Supplier Award


Aftab Bahumukhi Farms Limited, a sister concern of Islam Group, has received the Rising Star Supplier Award as a supplier of international quality chicken and further processed poultry supplier for KFC.
Transcom Foods� executive director Akku Chowdhury handed over the crest and a certificate on behalf of Yum India Pvt Ltd to the Aftab Bahumukhi Farms� managing director Fazle Rahim Shahriar, said a news release.
YUM Restaurants is the mother company and the quality controller of highly reputed international chain restaurant brands KFC, A&W, Pizza Hut, Taco Bell, and Long John Silver.
YUM, after visiting and auditing KFC�s local suppliers and auditing Aftab Bahumukhi Farms at Bhagalpur, Kishoreganj over the last six months, expressed its satisfaction and declared Aftab an international quality supplier of chicken and processed poultry.
Aftab will not only be able to supply chicken to all Bangladeshi KFC restaurants but also has been technically qualified to supply to KFC restaurants in South Asia, said the news release.
Fazle Rahim Shahriar hoped that Aftab would soon be the prime chicken and further processed poultry supplier in all the outlets of KFC in Bangladesh and in the region as well.

Link:

Business

 

[fallstuff]

Bangladesh signs new AIT Charter

The new Charter of Asian Institute of Technology (AIT) has been declared as adopted in Thai capital Bangkok on Wednesday. Bangladesh Ambassador to Thailand Kazi Imtiaz Hossain signed the new AIT Charter on behalf of the Bangladesh government, said a press release.

The adoption and signing ceremony of the new AIT Charter was held at the Ministry of Foreign Affairs of Thailand in the morning. Thai Foreign Minister Kaslt Piromya presided over the ceremony.

The Thai Foreign Minister declared the adoption of the Charter and signed the Charter in presence of the representatives from interested states and international organization. Cambodia, India, Japan, Nepal, Pakistan, Philippine, Seychelles, Sri Lanka, Sweden, Timor Leste, and UNIFEM also signed the Charter.

AIT was established over 50 years ago in Thailand. It is regarded as a leading graduate school in the fields of engineering, science, technology, management, including research and training in support of the economic and social development in the region. A good number of Bangladeshi faculties and students are associated with AIT.

By adopting the new Charter, AIT has gained the status of an international organization. With the new status the institute will be able to operate more effectively in cooperation with new partners and stakeholders. The new Charter is more attuned to the changing needs of the region and higher learning.

The Charter will remain open for signing from today for one year. It will enter into force six months after the date when the fifth country deposits its instruments of ratification. As signatory of this new AIT Charter, Bangladesh will be able to be engaged more meaningfully in developing its human resource in the field of research and development of science and technology as well as social and economic development.

Link:

Bangladesh signs new AIT Charter

 

[fallstuff]

Bangla-Turkey direct airlines by Dec

Direct airlines between Bangladesh and Turkey will be introduced by December this year, new Turkish Ambassador to Bangladesh Vakur Erkul said here Wednesday.

The ambassador made the announcement at an iftar party hosted by Turkey Bangladesh Chamber of Commerce and Industry (TBCCI) at Hotel Radisson. Industry Minister Dilip Barua, State Minister for Primary & Mass Education Motahar Hossain, FBCCI president AK Azad and TBCCI president Fikret Cicek spoke on the occasion. Ambassador Erkul said a delegation of Biman Bangladesh has been invited by Turkish Airlines to Turkey to discuss the technical aspects of the introduction of the direct airlines.

He hoped that Dhaka-Istanbul direct airlines would help boost bilateral trade and people to people contact between the two brotherly Muslim countries. The Ambassador expressed satisfaction over the growing volume of trade and hoped that it would reach US$ one billion by the end of this year.

Last year the export to Turkey was US$ 523.4 million and import to Bangladesh US$ 134.7 million. The two-way trade is 2.131 times higher than the last two years. Industry Minister Dilip Barua invited more investment from Turkey, saying that the government will protect the overseas investment.

link:

TBangla-Turkey direct airlines by Dec

 

[fallstuff]

Investments grow 127 pc in July

Investments in the country increased 127 percent to Tk 5726.12 crore in July from Tk 2521.06 crore a month ago.

According to the Board of Investment (BoI), the local investment grew 122 percent, while the joint and foreign investment by 176 percent in July.

As many as 153 industries, including 143 local, six joint venture and four 100 percent foreign owned industrial units were registered with the state-run promotional agency in the month.

Of the total proposed Tk 5726.12 crore investment, Tk 4980.54 crore will come from local investment, while Tk 745.58 crore from joint and 100 percent foreign direct investment (FDI).

Nearly 30,000 employments are proposed to be created in the industrial units registered in July.

Link:

Investments grow 127 pc in July

 

[fallstuff]

Broadband internet to be available in all upazilas by 2012: Raju

Post and Telecommunication Minister Raziuddin Ahmed Raju on Thursday said every upazila of the country would be brought under broadband internet facilities through fiber optic cable by 2012 in line with realizing the government's pledge to build digital Bangladesh.

"We have already signed an agreement with Malaysia to make laptop computer available for only Taka 10,000 by next year for easing the digital access," he said while speaking at a roundtable discussion titled 'Bangabandhu and Digital Bangladesh' organised by online newspaper the editor.com at CIRDAP auditorium here.

The minister said 'e-education' and 'e-health' services through using digital devices would be expanded across the country by next year.

Raju said establishment of 'Sonar Bangla', dreamt by Father of the Nation Bangabandhu Sheikh Mujibur Rahman, is only possible through a digital revolution.

Bangabandhu established contacts with the world through setting up Betbunia Earth Satellite Station in 1975, he said, adding, the advancement of information technology had started by his daughter Prime Minister Sheikh Hasina during the previous tenure of Awami League government.

He said the Prime Minister had broken the monopoly of mobile phone business to reach the benefit of digital device to the common people. "Presently common people are getting various services through mobile phones from their homes," he added.

Raju said the government is implementing various programme to ensure easy and free digital access for common people, he said, adding, the nation will enjoy the benefit of these programmes soon.

He said the government has adopted a plan to establish a digital university in Gazipur for building knowledge and IT based society. Besides, the third generation mobile will be introduced and two more wimax licences would be given by this year, he said.

Chief Executive Officer of RTV M Hamid chaired the roundtable discussion while Member of Parliament Murad Hasan presented the keynote paper.

Former Vice-Chancellor of Dhaka University AK Azad Chowdhury, Jatiya Party Presidium Member Barrister Anisul Islam Mahmud, BRTC chairman Majoir General (Retd) Zia Ahmed, President of Bangladesh Computer Council Mostafa Zabbar and journalist Mozammel Babu took part in the discussion, which was moderated by Managing Director of editor.com Dr Shamim Haidar.

The speakers demanded withdrawal of VAT from the internet service for realizing the dream of building a digital Bangladesh.

Link:

TBroadband internet to be available in all upazilas by 2012: Raju

 

[TopCat]

Export of RMG products expanding to more overseas destinations

Exports of Bangladesh's readymade garment (RMG) products are gradually expanding to China, Japan and Latin American countries in recent days. So far, the US and the EU were the main buyers of local apparel items. RMG manufacturers tried hard to explore more export destinations with diversification of their products and were able to find some prospective markets in Asia and Latin America.

China, the world's largest apparel supplier, has become a major export destination for Bangladesh as Chinese manufacturers are now reluctant to produce basic RMG items. The Chinese manufacturers have recently shifted from basic readymade garment (RMG) items to high-end apparels. A significant number of garment factories that made basic RMG products earlier faced closure in China recently. As such, Bangladesh and other competing countries are now exporting RMG products to China.

According to Export Promotion Bureau (EPB), Bangladesh exported knitwear products to China worth $3.071 million in fiscal 2007-08 against $0.76 million in the previous fiscal year, posting a staggering 400 percent growth. In fiscal 2007-08 the country exported woven garments to China worth $6.691 million against $6.323 million in fiscal 2006-07. The total export to China from Bangladesh amounted to $106.946 million against the import of around $3.0 billion in fiscal 2007-08.

In 2007, Bangladesh exported cotton T-shirts, singlets and other vests worth $0.79 million against $0.57 million in 2006. China imported such kind of apparel items worth $976.890 million in 2007 and $926.330 million in 2006 from the rest of the world. It clearly shows that China itself imports apparel items of a significant amount. Aggressive marketing drive by Bangladesh can grab a chunk of such import of China, experts say.

Currently Bangladesh enjoys duty concession on exports of 757 products to Chinese market under Asia Pacific Trade Agreement. Of the 757 products, 22 knitwear items and almost the same amount of woven items are included in the concession category. As a result, the export of knitwear and woven products is getting a steady rise to China.

Bangladeshi exporters are also looking to the Japanese market as the hottest new export destination. Apparel exports to Japan started to pick up after the Japanese government announced the China+1 strategy in 2008. Japan is eager to reduce its dependence on China, the largest supplier of apparel items globally. The China+1 policy promote shifting production from China to other nations, such as Bangladesh. Being a member of the least developed countries' group, Bangladesh has duty-free access to Japan for woven product (under the generalised system of preferences, or GSP). Knitwear faces a duty of 17 percent, as Japan clings to its aging knitwear industry.

The Japanese government has recently invited the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) leaders to discuss about duty-free access for knitwear. Earlier, the association leaders had asked Japan to relax rules-of-origin for knitwear items. If Japan allows duty-free knitwear, it will be a great opportunity for Bangladesh. In fact, Dhaka's decision last year inspired exporters with a cash incentive of 5.0 percent of each apparel shipped to Japan. Manufacturers need separate production lines for the Japanese customers, as they never compromise on quality. On the other hand, Japanese buyers can afford to pay for high quality.

Garment exports to Japan maintained roughly a 175 percent growth rate in between 2008-10, according to the EPB. Even with the duty, Bangladesh registered a 231 percent rise in knitwear exports to $60 million in the first 10 months of the past fiscal year; and earned $90 million from woven garment exports -- 121 percent growth over the same period a year earlier.

The Japanese textile and clothing investors are also coming to Bangladesh. Big entrepreneurs like Maruhisa, Yokohama Tape TM Textiles etc. have decided to invest a significant amount of money here. Three related companies -- NI Teijin, CHORI and FVG -- have opened liaison offices in Dhaka, and two companies opened quality-control inspection centres (PQC and K2) to meet Japanese national standards.

Meanwhile, a Bangladesh Garment Manufacturers and Exporters Association (BGMEA) delegation visited some Latin American countries to assess, explore and prepare for current and future potential of Bangladesh's garment exports. During the visit, tremendous responses were received from importers and buyers of those countries. Rough reckoning says Bangladesh can fetch US$400 million from apparel exports to three Latin American countries in the next three years. These countries are Brazil, Mexico and Chile.

The main obstacle to raising garment exports to Latin America is the absence of Bangladesh missions in those countries. If government missions are opened in the countries, then it would be convenient for Bangladesh exporters to catch market there, textile experts say.

Brazil's readymade garment import amounted to $ 767.072 million last year, of which $303.631 million knitwear and $463.441 million woven, while Bangladesh's export to that country was $50.287 million ($ 33.599 million knitwear and $16.688 million woven).

Mexico's import totalled to $1,947.85 million last year, ($982.58 million knitwear and $965.27 million woven), of which Bangladesh shared $114.01 million ($61.76 million knitwear and $52.25 million). Out of Chile's total RMG import to the tune of $ 1,074.83 million last year ($517.39 million knitwear and $557.44 million woven) Bangladesh took a part of $7.47 million ($ 5.26 million knitwear and $2.21 million). The Mexican government has agreed to allow any Bangladesh businessman holding a US visa to visit that country. Besides these countries, Bangladesh is eyeing opening new market for RMG export to Russia, Turkey and Colombia.

RMG buying houses, both local and foreign, are now growing rapidly in Bangladesh, as the country has become a lucrative place for RMG outsourcing on the appreciation of Chinese currency against the greenback. As part of their business expansion, foreign buying houses are eying to set up more liaison offices here. The buying houses including M&S, Adidas and Tesco have already published advertisements in newspapers to recruit experienced merchandisers for such liaison offices to collect RMG products at a competitive price from local garment units.

There is no denying that the country's export witnessed a significant growth during the last two decades due to growing competitive strength of the local exporters, mainly the RMG exporters, against their rivals from countries like India, China, Vietnam and Pakistan. Among other factors, efforts of the private entrepreneurs and the provision of cash incentive played a significant role in export growth. Cash incentives offered by the government also helped to build up many backward linkage industries and generated employment.

The garment industry has now emerged as a prime industrial sector in the country. More than five million people are directly and indirectly employed in the sector. Also, the local apparel industry is facing stiff competition in the world market. There is a need for developing forward linkage industries for sustaining in the competitive markets. Overall situation in the garment sector is much better now. But still, there should be more improvements in the social sector where workers' living conditions are conspicuously tagged

 

[TopCat]

Record jute production likely

The country is set to produce a record volume of raw jute this season, amid acute water scarcity faced by the growers in retting the harvested plants.

Local jute millers, however, have feared that the prevailing water crisis, caused due to insufficient seasonal rainfalls, might affect the quality of the natural fibre.

According to official estimate, the country's raw jute production is likely to hit 7.5 million bales this year, which is 2.0 million to 2.5 million bales higher than the last year's production.

Figures showed that more than 1.3 million acres of land had come under jute cultivation this season compared to about 11.50 million acres last season.

Officials and sector insiders said last year's price escalation of raw jute encouraged farmers to boost jute acreage this season.

The price of raw jute hit Tk 3,000 per maund at the end of last season following supply crisis, what the industry sources termed an 'artificial crisis'.

"Despite having a robust output, jute growers in many parts in the country are still facing big problems in ratting their harvested plants because of water scarcity, caused due to poor seasonal rains," a private jute mill executive told the FE.

Citing field-level information, he said nearly 40 per cent of the matured jute plants are yet to be harvested across the country for want of waters.

"If the situation persists, the quality of the fibre will fall, resulting in a crisis of quality raw materials for local jute industries," another industry operator said.

The jute mills, however, said despite having a much higher-than-expected level of output, the newly harvested raw jute is selling between Tk 2,000 and Tk 2,200 per maund at the growers' level.

Although the price of raw jute was varying between Tk 900 and Tk 1,100 per maund at the initial stage of the last season, the price crossed Tk 3000 at the end of last season.

Given the present unusual prices of raw jute, jute millers predicted a further rise in their main raw material in the days ahead.

"Already we are bearing the brunt of unusual hike in the prices of raw jute. Any further rise in the price of the fibre will certainly pose a serious threat to our survival," a senior executive of the Bangladesh Jute Mills Association (BJMA) said.

Echoing the same sentiment, another executive of the Bangladesh Jute Spinners Association (BJSA) said if the raw jute prices increase further, the jute mills will find themselves in a difficult situation to run their production.

Considering the situation, both of the private jute mills operators have suggested that the government take necessary steps to prevent any unusual hike of raw jute price for the wake of survival of local jute mills.

According to industry insiders, the country's jute industry - both under the government and private sectors - consumes around 4.0 million bales of raw jute annually while the country exports about 1.8 million to 2.0 million bales of raw jute per annum.

Some 0.3 million bales of raw jute are required for other internal uses per year, they mentioned

 

[akash57]

Saudi prince backs Beximco for $1b project

Dhaka, Aug 29 (bdnews24.com)—Beximco has teamed up with a company tied to the Saudi royal family to bid for the billion-dollar BMRE project of the lone oil refinery of Bangladesh, a statement said on Sunday.

"In line with its business diversification objectives, Beximco Ltd is now poised to enter into the oil and energy sector, and has mobilised necessary resources for this purpose," the statement issued in Dhaka said.

"Beximco is pleased to announce that Marasel Company Ltd owned by HRH Prince Salman Bin Sultan Bin Abdul Aziz Al-Saud of the Kingdom of Saudi Arabia and Beximco Ltd will be jointly submitting an Expression of Interest (EOI) to Bangladesh Petroleum Corporation/Eastern Refinery Ltd to finance the BMRE project of Eastern Refinery Ltd to increase its capacity from 1.5 million TPA to 4.5 million TPA on Build Own Operate Transfer (BOOT) or Public Private Partnership (PPP) basis," the statement said.

"The value of the BMRE (balancing, modernisation, renovation and expansion) project is estimated at around US$ 1 billion," it said.

"EOI is being submitted ... in response to a notice by Bangladesh Petroleum Corporation/Eastern Refinery Limited inviting national and international bidders to finance the BMRE project of Eastern Refinery."

"We have already mobilised necessary resources for this purpose as we deem oil and energy sector has a huge potential for us to grow," said Salman F Rahman, vice-chairman of the Group.

ERL, being the only petroleum refinery of Bangladesh, meets only around 30 percent of present petroleum products consumption, while the remainder is being imported as finished products.

The business conglomerate has businesses ranging from textiles to pharmaceutical to media and recently acquired the country's biggest private airline and reclaimed the single largest stake in the oldest private bank, IFIC.

It has also invested in the company that owns Dhaka's Westin hotel with plans to build a few more five-star hotels.

Saudi prince backs Beximco for $1b project | Bangladesh | bdnews24.com

 

[akash57]

4 MoUs with China province signed

Dhaka, Aug 29 (bdnews24.com)—Bangladesh has signed four memoranda of understanding (MoUs) with China's Yunnan province.

The MoUs were signed on Sunday on agricultural co-operation, civil aviation and tourism, energy cooperation and educational exchange.

Joint secretary level officials from Bangladesh signed the agreements with members of the visiting delegation from Yunnan province.
Several ministers and Qin Guangrong, governor of Yunnan province, were present at the signing ceremony.

After a meeting with the visiting delegation, communications minister Syed Abul Hossain said that these MoUs would further extend the relations between Bangladesh and Yunnan province.

"Our meeting this evening was fruitful, particularly in identifying new areas of cooperation," said the minister.

China has plans to connect Kunming, capital of Yunnan, with Chittagong by road through Myanmar.

Prime minister Sheikh Hasina during her visit to China in March discussed the issue with her counterpart and invited a delegation over here to further strengthen the process.

But no MoU was signed on this issue.

"We look forward to establishing direct road and rail links to China via Myanmar," said Hossain.

In 1999, over 100 scholars from China, India, Bangladesh and Myanmar met in Kunming to discuss means of expediting economic cooperation and development.

The conference, known as Kunming Initiative, adopted seven recommendations to boost development in the sub-region.

Connecting the landlocked Yunan with Myanmar, Bangladesh and the landlocked North Eastern Indian states by road, rail, air and waterways was among the recommendations.

China had already started construction of a road connecting Kunming with Myanmar's port of Sitwe, near Chittagong. There is no rail or road network to connect Chittagong with Myanmar.

Experts say Chittagong port will play an important role in the Kunming Initiative.

Products can reach to India's northeast and Kunming within five hours from Chittagong port if road and rail links are set up.

Bangladesh has already agreed to let India use Chittagong port.

4 MoUs with China province signed | Bangladesh | bdnews24.com

 

[akash57]

Dhaka's 2nd int'l airport under PPP

The cabinet committee on economic affairs has approved the building of a second international airport near Dhaka under public-private partnership (PPP).

This is the first project approved after the PPP guideline was finalised last month.

The meeting of the committee was held yesterday at the Cabinet Division with Finance Minister AMA Muhith in the chair.

The estimated cost of building the airport named Bangabandhu Sheikh Mujib International Airport is Tk 50,000 crore, according to a pre-feasibility study by the Ministry of Civil Aviation and Tourism.

Alongside the Hazrat Shahjalal International Airport in Dhaka, the government has decided in principle to build the second international airport near Dhaka.

A nine-member pre-feasibility study committee has been formed headed by a member of the Civil Aviation Authority. After visiting seven sites in Gazipur, Tangail and Mymensingh, the committee selected three among those.

A high official of the cabinet division said the final selection will be made after consulting with the private investors.

The cabinet committee also okayed four projects of Bangladesh Railway involving Tk 900 crore to reinstate two rail routes and develop a third one to ensure smooth supply of fuel for the upcoming rental power plants.

Of the total amount, Tk 280 crore will be funded available Indian credit under a deal signed recently.

The communications ministry also sought permission of the cabinet committee on economic affairs for 10 percent advance payment for the contractors.

Re-establishing rail link on Panchuria-Faridpur-Pukuria route and setting up of rail track on Pukuria-Bhanga route will cost Tk 267 crore.

Under another project, renovation of Sholoshahar-Dohazari and Fatehabad-Nazirhat rail routes will be implemented at a cost of Tk 203 crore.

These routes will be used for supplying fuel to Dohazari, Hathazari and Faridpur power plants.

Under another project the ministry will procure 10 broad gauge (BG) diesel electric locomotives costing Tk 217 crore. The ministry will also spend another Tk 183 crore for collecting 180 BG bogey oil tank wagon and six brake vans.

The government is going to import one lakh tonnes of rice from Vietnam through government-to-government negotiation without floating any tender.

The cabinet committee has exempted the food ministry from following the rules of PPA.

Dhaka's 2nd int'l airport under PPP

 

[Al-zakir]

^^ Airport is unnessary as of now. Dhaka needs to concentrate on how to eleimate hell bend traffic around the city. This traffic unacceptable yet this morons are planing some thing that need in future.

I would like to see the subway, more roads, elimination of rickshaw, better sewage and garbage disposable before another airport. Clean is half of Iman yet we are acting like pure animal with all these fi#lth around.

 

[eastwatch]

Dhaka's 2nd int'l airport under PPP
[/url]

A new ainternational airport is a dream project which will remain in dreams for the coming years, because the price tag at $8 billion is a very big money. However, it is necessary that the present ZIA be extended with another new and longer runway. But, the situation around this airport does not allow much such works.

There have been encroachments to the airport land. There are many high-rise bldgs. surrounding it. A new airport somewhere in Tangail must be connected to the City center with modern facilities like monorail and expressway. Without these, the proposed airport will be as useless as the existing one.

 

[akash57]

Qatar to give 400,000 MT of urea fertiliser

Qatar has agreed to supply 400,000 metric tonnes of urea including additional 100,000 metric tones to Bangladesh in current fiscal under a deal agreed between the two governments.

Qatar Fertilizer Company Limited (QFCL) will supply the important fertilizer, as stipulated by the agreement, which was signed during Prime Minister Sheikh Hasina's visit to Qatar in October 2009.

That original agreement was to import 300,000 metric tonnes of fertilizers for the current fiscal. But now it has been raised to 400,000 tonnes.

Deputy Prime Minister of Qatar, also the Energy and Industrial Affairs Minister Abdullah Bin Hamad Al Atiyah confirmed this to Industries Minister Dilip Barua when he met Abdullah at his office on Monday night.

State Minister for the Ministry of Energy and Industrial Affairs Mohamed Saleh Al Sada, Bangladesh Ambassador in Qatar M Shahdat Hossain, BCIC Chairman KH Masud Siddiqui, director Ranjan Dutta and high officials of the both countries were present at that time.

They also discussed other bilateral issues including Qatar's investment in Bangladesh's industrial sector, manpower export and LNG (liquid natural gas) export.

Industries Minister Dilip Barua thanked the Qatari government for the 300,000 metric tonnes of fertilizer they provided in the last fiscal (2009-10).

"The issue of food security has been made easier in Bangladesh through Qatar's support in supplying fertilizers," Minister Barua said.

Minister Barua drew Qatar Deputy Prime Minister's attention to import manpower from Bangladesh in larger volume.

He also urged the Qatar government to come forward in investing in Bangladesh, saying Bangladesh offers a favorable investment environment in industrial sector.

In reply, Qatar Deputy Prime Minister Abdullah said: "Qatar always gives priority to the development of Bangladesh as its Muslim friend."

He assured Barua of considering the issue of manpower export with importance. "I also hope that Qatar investment in Bangladesh's industrial sector would be boosted in the future."

Bangladesh has been importing fertilizers from Qatar since long. In the previous fiscal, both countries signed agreement to supply 3 lakh metric tones of urea fertilizers to Bangladesh.

Another agreement was signed with the Qatar government during Prime Minister Sheikh Hasina's visit to Qatar in October 2009 to import 3 lakh metric tones of fertilizers for the current fiscal.

The New Nation - Internet Edition