SHILLONG, Oct 28 – Bangladeshi business delegates today proposed setting up of a joint venture cement plant in Bangladesh with Meghalaya’s equity share being in limestone and Bangladesh providing infrastructure and capital.
The business delegates said Bangladesh has the requisite capital and power for the cement plant and Meghalaya has the raw material and both sides could work together for mutual benefit.
“Meghalaya’s equity share can be limestone export and Bangladesh would provide the rest (capital, infrastructure and power) and the profits can be shared equally between the two sides,” India-Bangladesh Chamber of Commerce and Industry (IBCCI) president, Abdul Matlub Ahmed proposed during his visit here to forge bilateral ties.
Ahmed added capital and power for the proposed cement plant was readily available in Bangladesh all that was required was nod from Meghalaya to supply limestone from its vast reservoir and forge an equal partnership deal.
There is a shortage of 10 million ton of cement in Bangladesh annually. The cement plant set up by French cement manufacturing giant Lafarge in Chattak, Bangladesh with limestone imported from Shella Meghalaya has a capacity to produce 1.2 million ton annually.
“There is a great business opportunity for setting up a cement manufacturing unit to bridge the shortage and both Meghalaya and Bangladesh would equally benefit by entering into a joint venture in this sector,” the IBCCI chief said.
During their meeting with Chief Minister DD Lapang, the Bangladeshi side further urged the Meghalaya government to purchase “world class” garments from Bangladesh at a competitive price.
“The government of India has allowed duty free import of eight million garments of which four million has already been sold out. We have asked the Meghalaya government to buy at least one million pieces,” Ahmed said.
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