The country's largest fertilizer factory, Ghorasal Polash Urea Fertilizer Factory, is expected to go into production by the end of 2023.
Mitsubishi Heavy Industries Limited (MHI) and China National Chemical Engineering No 7 Construction Co Ltd (CC-7) are jointly constructing the factory, which will have an annual production capacity of 9.24 lakh metric tons, reports BSS.
Bangladesh Chemical Industries Corporation (BCIC) under the Industries Ministry is implanting the project at a cost of around Taka 15,500.21 crore.
Out of the total project cost, Taka 4,580.21 crore comes from the government exchequer while Taka 10,920 crore from Japan Bank for International Cooperation (JBIC), Bank of Tokyo-Mitsubishi UFG Limited (MUFG) and the Hongkong and Shanghai Banking Corporation Limited (HSBC) as commercial loan.
Talking to BSS, Industries Secretary Zakia Sultana said after completion of the construction of Ghorasal Polash Urea Fertilizer Factory, it will be the largest factory in the country's industrial sector.
"Through implementation of the project, BCIC will get the opportunity to play a more significant role in the country's development. Moreover, the project will change the living standard of the local people. The project will create huge employment opportunities," she added.
She informed that the new factory will be "modern, sophisticated, energy efficient and green" fertilizer factory in the country which will help the country reduce the import of urea fertilizer and save hard-earned foreign currency.
She mentioned that Bangladesh may not require importing urea fertilizer from 2025 as the government is conducting feasibility study for two more fertilizer factories.
Project Director of the Ghorashal-Polash Urea Fertilizer Project Md Rajiour Rahman Mollick informed that the government has a plan to produce some 2,800 metric tons of granular urea a day in Ghorasal Polash Urea Fertilizer Factory, which is being constructed at the place of the existing two fertilizer factories - Urea Fertilizer Factory Limited (UFFL) and Polash Urea Fertilizer Factory Limited (PUFFL).
As per the government plan, he said, the production capacity per day will be about three times higher than that of the existing two fertilizer factories.
Explaining further the environmental issues, he said it is the first fertilizer factory in Bangladesh where the environmental pollutant Carbon-Di-Oxide (CO2) will be captured from the primary reformer flue gas and the production of urea fertilizer will be increased (about 10pc ) by using the captured CO2.
Responding to a question, he said that as high as 80 per cent of the construction work of the project has been completed so far.
The new fertilizer factory will ensure the availability of urea fertilizer to the farmers at a lower cost and meet up the growing demand in the country and thereby ensure food security of the country, he added.