Ghorashal Urea Fertiliser Plant opens

Prime Minister Sheikh Hasina is set to inaugurate Ghorashal Urea Fertiliser Plant in Narsingdi, the largest in Southeast Asia, on Sunday morning. According to industries ministry sources, the government took the initiative on October 24, 2018 to build an environmentally friendly and modern fertiliser plant with high efficiency and power sustainability. The construction work for the project began on March 10, 2020. The project is under the supervision of CC7 Seven, a Chinese company, and Mitsubishi Heavy Industries Limited, a Japanese contracting firm. Although the construction was initially expected to conclude in December 2023, it has been completed two months ahead of schedule. The total expenditure for this project, built on 110 acres of land, is estimated at Tk 155 billion (Tk 15,500 crore). With a daily production capacity of 2,800 tonnes of urea, the plant can produce approximately 1 million tonnes a year. Once operational, the fertiliser plant is expected to provide direct and indirect employment for about 30,000 people.

Source: https://today.thefinancialexpress.com.bd/trade-market/ghorashal-urea-fertiliser-plant-opens-today-1699723521

 100MW solar power plant gets nod

The government has approved a proposal to set up a 100-megawatt solar-based power plant in Mymensingh’s Gouripur upazila. A consortium of Chinese Xizi Clean Energy Equipment Manufacturing Co Ltd and local firms Cassiopea Fashion Ltd and Cassiopea Apparels Ltd will build the plant. The nod came at a meeting of the cabinet committee on purchase in the secretariat. Bangladesh Power Development Board will buy electricity at around $0.10 per kilowatt-hour for 20 years. In September, the purchase committee approved three solar projects to be set up in Dinajpur, Bandarban and Feni, with the combined capacity of 370MW. Currently, renewables account for two percent of Bangladesh’s installed power generation capacity. The country has a target to raise it to 30 percent by 2030.

Source: https://www.thedailystar.net/business/organisation-news/news/100mw-solar-power-plant-gets-nod-3465026

 Women entrepreneurs can get collateral-free loan up to Tk50 lakh

The Bangladesh Bank has unveiled a new loan guarantee scheme to bolster women entrepreneurs, under which a maximum of Tk50 lakh can be borrowed with the central bank’s backing. Women entrepreneurs will get the support both in working capital and term loans. This guarantee will not charge any fees and banks will provide the facility if a customer applies for it. Under the scheme, banks and financial institutions have to submit their annual targets for loan distribution to the central bank. The Bangladesh Bank will provide loan guarantees to banks accordingly. The central bank yesterday launched two new guarantee scheme facilities. One is a guarantee for loans under a Tk3,000-crore scheme for women entrepreneurs, and the other is a guarantee under a Tk1,400-crore scheme for agricultural entrepreneurs.

Source: https://www.tbsnews.net/economy/women-entrepreneurs-can-get-collateral-free-loan-tk50-lakh-735898