Steelmaker plans big

http://www.thedailystar.net/newDesign/news-details.php?nid=170582
Steelmaker plans big

Zahirul Islam

Arun Bikash Dey, Ctg
PHP Group moves to expand and diversify, as it plans to make a strong foothold in the country’s steel industry. The company has recently acquired a steel mill at Ghorashal, AMK Steels Mill, to produce deformed bar.
“We wanted to expand our steel industry. At present we produce corrugated iron sheet in our PHP Cold Rolling Mills and PHP Continuous Galvanising Mills. Now we are going to make deformed bar in the new mill,” says Zahirul Islam, managing director of PHP Ispat Ltd, a sister concern of the group.
Islam shares his views with The Daily Star on the company’s latest move.
AMK Steels Mill that produces thermo mechanical treatment deformed bar was established in 2005. “The company was facing some problems, and those were hard for the company to avoid. So we acquired it for a renovation,” says Islam.
The net asset value of AMK Steels is around Tk 75 crore and the total asset value of the two mills is Tk 1,000 crore.
AMK Steels has been renamed PHP Ispat after acquisition.
PHP Cold Rolling Mills is the first of such mill in the country that started operations in 1999 and PHP Continuous Galvanising Mills started operations in 2001.
These two mills produce nearly 15,000 tonnes of corrugated iron sheet a month, meeting around 40 percent demand of the country. “Our annual turnover from the mills is Tk 2,000 crore.”
PHP Arabian Horse and PHP Arabian Horse Super are the two brands of the company’s tins.
The official says they expect an increase in annual turnover by Tk 500 crore with the latest acquisition.
The country needs nearly 17 lakh tonnes of thermo mechanical treatment deformed-bar and 60-grade bar a year, according to Bangladesh Re-rolling Mill Owners’ Association.
“We expect to produce one lakh tonnes a year and reach the three-lakh-tonne mark in the second or third year,” Islam says. “We hope to meet about 7 percent of Bangladesh’s total demand initially.”
The company exports its PHP Arabian Horse and PHP Arabian Horse Super tins to Europe and Africa. In case of deformed bar, he says the company targets to fulfil the domestic demands at first, as the country still depends on imports.
Islam says steel is one of the important sectors in Bangladesh. “The demand for rod will increase on a regular basis. We are heading to become a developed nation. So we want to produce the best quality rods and fulfil the country’s entire demand.”
“If we take initiatives to make best quality products then our competitors will also do so,” Islam says. “This healthy competition will let our people buy quality rods at competitive price.”

Plan to finance $120m to set up economic zones

http://www.bssnews.net/newsDetails.php?cat=0&id=156150&date=2011-01-18
Plan to finance $120m to set up economic zones
DHAKA, Jan 18 (BSS) – The World Bank (WB) in collaboration with DFID and IFC will finance US$ 120 million to the proposed Private Sector Development Support Project (PSDSP) to set up economic zones in the country.
The US$ 120 million project aims to create a sustainable industrialization model by developing a public private partnership (PPP) approach to investment in zones.
The WB and Department for International Development (DFID) and International Finance Corporation (IFC) have successfully concluded negotiation for the PSDSP this month, according to a WB statement issued today.
The Investment Climate Assessment for Bangladesh identified lack of serviced land and quality infrastructure as the two recurring constraints for private sector development.
Economic Zones can be an important tool for attracting private investment, generating employment and accelerating economic growth.
Economic Zones will create increased linkages with the domestic economy by broadening and building on Bangladesh’s positive experience with Export Processing Zones.
The Government and the World Bank have agreed on Kaliakoir as the first site for developing an Economic Zone. The chosen site at Kaliakoir is Government- owned and no resettlement of people is needed.
The site is fenced, already semi-developed and over 50 percent of the land is elevated and requires no land fill. The site is also strategically located to take advantage of the rail link to the airport and Dhaka city.
The proposed project will finance public sector investment in infrastructure for the development of serviced land and leverage private financing for Economic Zone development.
The initiative will also focus on human resource development and better compliance with environmental and social standards.

Square Pharma sets up insulin manfcg unit

http://www.thefinancialexpress-bd.com/more.php?news_id=98887&date=2010-04-29

Square Pharma sets up insulin manfcg unit
FE Report

Square Pharmaceuticals, the country’s largest medicine maker, has set up an insulin manufacturing unit in hopes to keep the highly expensive drug within patients’ purchasing capacity.

Finance Minister AMA Muhith inaugurated the state-of-the-art Insulin Manufacturing Unit at a ceremony at the Square’s production headquarters in Gazipur Wednesday.

Health Minister Prof AMF Ruhul Haque, health directorate secretary Sheikh Altab Ali, Square Group chairman Samson H Chowdhury and its managing director Tapan Chowdhury and diplomats of different countries were present on the occasion.

Spread over 36,000 square feet on the premises of Square Pharmaceuticals factory in Gazipur, the manufacturing facility cost Tk 900 million to be built.

The unit will manufacture insulin products using highly purified recombinant human insulin crystals in its formulation with different dosage types for covering a full spectrum of short, intermediate and long acting insulins.

The core objective of the unit – which has been built complying to US Food and Drug Administration (USFDA) and European Medicine Agency Current Good Manufacturing Practice (EMEA cGMP) – is to make available a whole range of world-class insulin products at an affordable price for the people of Bangladesh, Tapan Chowdhury said later at a press briefing.

He said imports account for around 80 per cent of the country’s Tk 1.10 billion insulin products market. “Our unit will increase the share of local production by at least 10 per cent, thus reducing dependency on foreign imports to some extent.”

Also a former caretaker government adviser Tapan said the prices of the insulin drugs produced by his company would be available at 22 per cent lesser price than the imported products.

Square is also eyeing to export insulin products after meeting the local demand, said Mr Tapan adding that his company now exports medicines to 35 countries.

Health Minister Ruhul Haque said the number of diabetic patients in the country is increasing day by day. “But most of the insulin products are imported from abroad. So it is important to have domestic manufacturing facility to produce the life-saving drug at affordable prices.”

Local company to Invest $ 7.9m in Adamjee EPZ

http://www.theindependent-bd.com/details.php?nid=154263

Local company to Invest $ 7.9m in Adamjee EPZ
ECONOMIC REPORTER

Bangladeshi company Mis. Mikhail Plastopak Limited will set up a Rubber, Plastic, Papaer Products and Garments Accessories Manufacturing Industry in Adamjee Export Processing Zone.

This100 per cent local owned company will invest $ 7.893 million in setting up their unit and will produce Rubber, Plastic, Paper Products and Garments accessories Items. The company will also create employment opportunity for 596 Bangladeshi, says a press release.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Mis. Mikhail Plastopak Limited in BEPZA Complex, Dhaka recently. Md. Moyjuddin Ahmed, member (Investment Promotion) of BEPZA and Md. Fahad Muneem Rahmatullah, managing director of Mis. Mikhail Plastopak Limited signed the agreement on behalf of their respective organisations.

Ventura to invest $8.142m in Karnaphuli EPZ

http://www.thedailystar.net/newDesign/news-details.php?nid=134905

Ventura to invest $8.142m in Karnaphuli EPZ
Star Business Desk

A Bangladeshi company will set up a garment-manufacturing factory at Karnaphuli Export Processing Zone at $8.142 million.

The 100 percent locally owned company Ventura (Bangladesh) Ltd will establish a plant to produce garment items employing over 4,000 people, including 132 foreign nationals.

Md Moyjuddin Ahmed, member (investment promotion) of Bangladesh Export Processing Zones Authority (Bepza), and Sarowar Hossain, managing director of Ventura, signed a deal at Bepza complex yesterday.

Largest shoe plant in the making

http://www.thedailystar.net/newDesign/news-details.php?nid=135914

Largest shoe plant in the making

Abdullah Al Mahmud, back from Anowara

A $110 million shoe factory is being set up at the Korean Export Processing Zone (KEPZ), with remarkable progress in infrastructure development in the last two years.

Karnaphuli Shoe Industries Ltd, a company of Korea-based Youngone Group, will be the largest in Bangladesh with a monthly production capacity of 30 million pairs. Sixteen buildings are being built on two adjoining hills to house the factory.

The factory will provide employment for 32,000 people to work in 72 production lines, said Lt Col (retd) Md Shahjahan, general manager of KEPZ Corporation (BD) Ltd, another company of Youngone Group. KEPZ Corporation (BD) Ltd is in charge of developing the EPZ.

It will go for trial production after four of the eight buildings on the lower lap are completed by September, he said.

Karnaphuli Shoe Industries is setting up the factory to encourage other intended entrepreneurs into the sector and address the initial setbacks that one might face in setting up a factory at the newly developed EPZ site, Shahjahan said.

A total of 2,700 acres were allocated through gazette notification back in 2000 to develop the EPZ on the bank of the river Karnaphuli in Anowara upazila.

Seventy-five percent of the land was government-owned, while the rest 25 percent had to be acquired from private owners, the official said. Of 2,700 acres of the allocated land, 2,492 acres have so far been handed over to KEPZ.

However, the authorities could not develop infrastructure or initiate construction of any factory before operating licences were issued in 2007, Shahjahan said.

“After that, we proceeded with infrastructure development, keeping the hilly landscape almost undisturbed.”

“We will have about 1,200 acres to develop industrial plots in separate blocks of different industries, and preserve the rest of the land in its original state.”

“So far, 20 to 21 kilometres of roadways have been constructed for better connectivity surrounding the whole project site,” he said.

The authorities also planted 12.5 lakh trees to offer natural tranquility inside the premises.

“In addition, we developed 17 lakes on about 130 acres of land to get water at the project site, as ground-water level is far below,” Shahjahan said.

“We have an estimated budget of $200 million to develop infrastructure, excluding utility services. About 600 people are working here without any output until now,” he said.

“We could have made further progress if required utility, including gas and power, were ensured,” he said.

Moreover, a lack of clarity in several private EPZ rules and import permits for equipment of the industrial units also contributed to the slow progress in implementing the KEPZ, he said.

Geebee to invest in Karnaphuli EPZ

http://www.newagebd.com/2010/apr/24/busi.html#10

Geebee to invest in Karnaphuli EPZ
Business Desk

Geebee (Bangladesh) Limited, an Indian company, will set up a garments manufacturing industry in the Karnaphuli Export Processing Zone.

The foreign-owned company will invest $9.513 million in setting up its unit and will produce shirt, T-shirt, blouse, jackets, trousers/shorts. The company will also create employment opportunity for 2,278 persons including 22 foreign nationals, said a news release.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and Geebee (Bangladesh) Limited at BEPZA Complex in Dhaka recently.

BEPZA member (investment promotion) Md Moyjuddin Ahmed, and Geebee (Bangladesh) Limited general manager Shankaranarayanan Guruswami signed the agreement on behalf of their respective sides.

DCCI roundtable focuses on investment in private sector

DCCI roundtable focuses on investment in private sector

Star Business Desk

Bangladesh has an opportunity to diversify exports and explore new markets as the Netherlands offers three-tier joint-venture investment in the private sector, said speakers at a seminar in Dhaka yesterday.

The seminar — Business to Business (B2B) Support Programmes for Private Sector Development — was co-organised by Dhaka Chamber of Commerce and Industry (DCCI) and the Netherlands Embassy in Bangladesh at the DCCI conference room.

Presently, the government of Netherlands offers a number of programmes to develop the private sector in Bangladesh.

The Netherlands Agency for International Business Cooperation (EVD) is offering funds to support local entrepreneurs in IT, shipbuilding, jute, poultry, pharmaceuticals and fisheries.

The Private Sector Investment Programme (PSI) offers a maximum grant of 750,000 euros to establish an innovative joint venture with Dutch business partners. The Match Making Facility assists local companies to find suitable business partners in the Netherlands.

The PUM programme offers short-term consultancy and the ORIO Programme aims to improve public infrastructure with Dutch Support.

DCCI President Abul Kasem Khan chaired the function, where the Ambassador of the Netherlands Alphons JAJMG Hennekens, and Vice President of the chamber M Shahjahan Khan also spoke.

The DCCI chief described the PST scheme as most important for entrepreneurs as 11 projects under the PSI programme are now being implemented in Bangladesh.

Emphasising the government’s target to make Bangladesh a middle-income country by 2021, Hennekens said the private sector is the engine of economic growth.

“To develop the potential of Bangladesh as an emerging market, the level of foreign and local investment has to increase,” he added.

“Our aim is to support the Bangladeshi government to become a middle income country by 2021 and achieve the millennium development goals,” he added.

Netherlands Agency for International Business and Cooperation (EVD) Project Officer Paul Schoenmakers presented the keynote paper on ‘Investing in Bangladesh with the Netherlands’.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=133291

DCCI roundtable focuses on investment in private sector

DCCI roundtable focuses on investment in private sector

Star Business Desk

Bangladesh has an opportunity to diversify exports and explore new markets as the Netherlands offers three-tier joint-venture investment in the private sector, said speakers at a seminar in Dhaka yesterday.

The seminar — Business to Business (B2B) Support Programmes for Private Sector Development — was co-organised by Dhaka Chamber of Commerce and Industry (DCCI) and the Netherlands Embassy in Bangladesh at the DCCI conference room.

Presently, the government of Netherlands offers a number of programmes to develop the private sector in Bangladesh.

The Netherlands Agency for International Business Cooperation (EVD) is offering funds to support local entrepreneurs in IT, shipbuilding, jute, poultry, pharmaceuticals and fisheries.

The Private Sector Investment Programme (PSI) offers a maximum grant of 750,000 euros to establish an innovative joint venture with Dutch business partners. The Match Making Facility assists local companies to find suitable business partners in the Netherlands.

The PUM programme offers short-term consultancy and the ORIO Programme aims to improve public infrastructure with Dutch Support.

DCCI President Abul Kasem Khan chaired the function, where the Ambassador of the Netherlands Alphons JAJMG Hennekens, and Vice President of the chamber M Shahjahan Khan also spoke.

The DCCI chief described the PST scheme as most important for entrepreneurs as 11 projects under the PSI programme are now being implemented in Bangladesh.

Emphasising the government’s target to make Bangladesh a middle-income country by 2021, Hennekens said the private sector is the engine of economic growth.

“To develop the potential of Bangladesh as an emerging market, the level of foreign and local investment has to increase,” he added.

“Our aim is to support the Bangladeshi government to become a middle income country by 2021 and achieve the millennium development goals,” he added.

Netherlands Agency for International Business and Cooperation (EVD) Project Officer Paul Schoenmakers presented the keynote paper on ‘Investing in Bangladesh with the Netherlands’.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=133291

Bankers see new era in global business

Bankers see new era in global business
Sajjadur Rahman

Top bankers said yesterday a relatively positive rating on Bangladesh by a globally reputed firm would help them reduce costs for cross-border business exposures.

They also said the country would now get an opportunity to raise equity and debt required for such mega projects as energy, power and infrastructure.

Standard & Poor’s maiden sovereign rating for Bangladesh at BB-, announced yesterday, indicates a favourable comparison with the rest of the South Asian nations except India.

“I am sure we’ll see the benefits in the pricing of cross-border risk by international financial institutions,” said Muhammad A (Rumee) Ali, chairman of BRAC Bank.

He said: “Bangladesh is no longer an ‘unknown risk’ country.”

Generally, foreign banks and other lenders put a premium for country risk even in settling a letter of credit (LC) forwarded by a local bank. The premium varies from bank to bank and country to country. The bankers said the country risk sometimes costs local banks up to five percent of the loan or LC value.

K Mahmood Sattar, chief executive officer of The City Bank, was electrified to see Bangladesh’s rating better than Sri Lanka and Pakistan and similar to countries like Turkey and Indonesia.

“Now we’ve a negotiating ability in settling and confirmation,” said Sattar, also the chairman of Association of Bankers Bangladesh, a forum of 30 private banks’ chief executive officers.

Confirmation is sought when a beneficiary is not comfortable with the financial standing of the issuing bank or is doubtful about the country risk of the issuing bank.

Anis A Khan, managing director of Mutual Trust Bank, said the rating would brighten the country’s image.

“It will help us in global business,” said Khan.

Mamun Rashid, Citi country officer, said cross-border borrowing and lending will be competitive and transparent. “There will be no arbitrary rating.”

Tarique Islam Khan, head of HSBC Global Markets in Bangladesh, said HSBC, as one of the rating advisers throughout the process, is happy about the outcome with a ‘stable’ outlook.

“Expectations outside Bangladesh had been lower than the outcome. So, this will have a tremendous positive impact on Bangladesh’s country image among investors and economic analysts,” he said.

Alamgir Morshed, director of Standard Chartered Global Markets in Bangladesh, said: “Credit rating assesses the ability and willingness of a borrower to repay.”

Morshed quoted an S&P overview on Bangladesh that the stable outlook reflects “our expectations that prudent macroeconomic policy setting will prevail and microeconomic reforms to address growth constraints will continue”. This means reforms, policy changes and the government’s financial ability matter in a credit rating.

“Bangladesh is a good borrower and it has been proved,” he said.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=133283

Bankers see new era in global business

Bankers see new era in global business
Sajjadur Rahman

Top bankers said yesterday a relatively positive rating on Bangladesh by a globally reputed firm would help them reduce costs for cross-border business exposures.

They also said the country would now get an opportunity to raise equity and debt required for such mega projects as energy, power and infrastructure.

Standard & Poor’s maiden sovereign rating for Bangladesh at BB-, announced yesterday, indicates a favourable comparison with the rest of the South Asian nations except India.

“I am sure we’ll see the benefits in the pricing of cross-border risk by international financial institutions,” said Muhammad A (Rumee) Ali, chairman of BRAC Bank.

He said: “Bangladesh is no longer an ‘unknown risk’ country.”

Generally, foreign banks and other lenders put a premium for country risk even in settling a letter of credit (LC) forwarded by a local bank. The premium varies from bank to bank and country to country. The bankers said the country risk sometimes costs local banks up to five percent of the loan or LC value.

K Mahmood Sattar, chief executive officer of The City Bank, was electrified to see Bangladesh’s rating better than Sri Lanka and Pakistan and similar to countries like Turkey and Indonesia.

“Now we’ve a negotiating ability in settling and confirmation,” said Sattar, also the chairman of Association of Bankers Bangladesh, a forum of 30 private banks’ chief executive officers.

Confirmation is sought when a beneficiary is not comfortable with the financial standing of the issuing bank or is doubtful about the country risk of the issuing bank.

Anis A Khan, managing director of Mutual Trust Bank, said the rating would brighten the country’s image.

“It will help us in global business,” said Khan.

Mamun Rashid, Citi country officer, said cross-border borrowing and lending will be competitive and transparent. “There will be no arbitrary rating.”

Tarique Islam Khan, head of HSBC Global Markets in Bangladesh, said HSBC, as one of the rating advisers throughout the process, is happy about the outcome with a ‘stable’ outlook.

“Expectations outside Bangladesh had been lower than the outcome. So, this will have a tremendous positive impact on Bangladesh’s country image among investors and economic analysts,” he said.

Alamgir Morshed, director of Standard Chartered Global Markets in Bangladesh, said: “Credit rating assesses the ability and willingness of a borrower to repay.”

Morshed quoted an S&P overview on Bangladesh that the stable outlook reflects “our expectations that prudent macroeconomic policy setting will prevail and microeconomic reforms to address growth constraints will continue”. This means reforms, policy changes and the government’s financial ability matter in a credit rating.

“Bangladesh is a good borrower and it has been proved,” he said.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=133283

Bangladesh fair in Canada next month

Bangladesh fair in Canada next month

United News of Bangladesh . Dhaka

Bangladesh will hold a single-country fair in Canada next month aiming to expand the market of North America for Bangladeshi products.

The three-day solo fair titled ‘Expo Bangladesh 2010’ will start May 26 in Toronto.

About 45 reputed Bangladeshi companies are schedule to participate the fair.

A six-member team of the Canada Bangladesh Chamber led by its president Masud Rahman met commerce minister Faruk Khan on Wednesday at his office to invite the minister for participating at inaugural function of the fair.

The minister assured the delegation of his government’s all-out support to expand trade between the two countries.

Bangladesh will showcase their major exportable items including readymade garments, knitwear, ceramic, footwear, leather goods, frozen foods, jute goods and handicrafts in the fair.

source:http://www.newagebd.com/2010/apr/08/busi.html#9

Danish trade team to focus on joint-venture investment

Danish trade team to focus on joint-venture investment

BSS, DHAKA

A high-powered Danish business delegation will arrive here tomorrowon a four-day visit to Bangladesh to tap investment opportunities in the country, which needs multi-billion dollars in capital for energy and power generation.

Officials at the Denmark Embassy earlier told the news agency that the delegation, led by Danish Minister for Development Cooperation Soren Pind, would primarily seek to establish long term business relations, even joint ventures with Bangladeshi companies involved in energy and clean technology.

The Danish companies, to be represented in the trade delegation, are active in conventional energy, renewable energy and waste and water management.

In a note of welcome prior to the visit, the Ambassador of Denmark in Dhaka, Einar H Jensen, said, “The creation of long term strategic partnerships will, without a doubt give value to both Bangladesh and Denmark.”

In response to Bangladesh’s effort to draw foreign investment in the energy and power sector, he said: “The Embassy of Denmark has invited Danish companies active in energy and green technology to visit Bangladesh to assess and explore opportunities for investments and business operation in Bangladesh.”

In Bangladesh, Jensen said, energy consumption has outrun the production thanks to higher rate of economic growth, averaging six per cent per year.

The focus of the delegation is energy and green technology, Jensen said, adding the current energy situation and the environmental sustainability in production might be the “two single largest challenges to the future growth and well-being of the country.”

The forthcoming business tour by Danish companies, second in a few months, is seen significant in view of the post-Copenhagen Summit on climate change where Bangladesh took the centre stage for its vulnerability to a shifting climate.

After its arrival in the capital, the delegation is scheduled to have discussions on finance opportunities and meet officials and visit existing energy and waste water treatment projects.

On April 11, the delegation members have scheduled meeting with Bangladeshi counterparts in a day-long match-making event, hosted by the Denmark Embassy, at a city hotel.

Commerce minister Lt Col (retd) Faruk Khan, energy adviser to the prime minister Towfiq-e-Elahi Chowdhury, president of Foreign Investors’ Chamber of Commerce and Industry AM Hamim Rahmatullah, Danish development minister Soren Pind and commercial counsellor at the embassy Morten Siem Lynge are expected to address the meeting.

On the following day, the delegation will fly to Chittagong where it would visit Danish-funded projects-Sea Resources and Fishers Shipyard and Coldplay. The delegation will also visit KAFCO and Western Marine Shipyard where a number of ships are being built for a Danish buyer. In Dhaka, the delegation will attend a high-profile energy seminar, organised by Bangladesh chapter of Paris- based International Chamber of Commerce.

Prime Minister Sheikh Hasina and the visiting Danish Development Minister are expected to open the seminar, followed by plenary sessions.

source:http://www.theindependent-bd.com/details.php?nid=168998

Danish trade team to focus on joint-venture investment

Danish trade team to focus on joint-venture investment

BSS, DHAKA

A high-powered Danish business delegation will arrive here tomorrowon a four-day visit to Bangladesh to tap investment opportunities in the country, which needs multi-billion dollars in capital for energy and power generation.

Officials at the Denmark Embassy earlier told the news agency that the delegation, led by Danish Minister for Development Cooperation Soren Pind, would primarily seek to establish long term business relations, even joint ventures with Bangladeshi companies involved in energy and clean technology.

The Danish companies, to be represented in the trade delegation, are active in conventional energy, renewable energy and waste and water management.

In a note of welcome prior to the visit, the Ambassador of Denmark in Dhaka, Einar H Jensen, said, “The creation of long term strategic partnerships will, without a doubt give value to both Bangladesh and Denmark.”

In response to Bangladesh’s effort to draw foreign investment in the energy and power sector, he said: “The Embassy of Denmark has invited Danish companies active in energy and green technology to visit Bangladesh to assess and explore opportunities for investments and business operation in Bangladesh.”

In Bangladesh, Jensen said, energy consumption has outrun the production thanks to higher rate of economic growth, averaging six per cent per year.

The focus of the delegation is energy and green technology, Jensen said, adding the current energy situation and the environmental sustainability in production might be the “two single largest challenges to the future growth and well-being of the country.”

The forthcoming business tour by Danish companies, second in a few months, is seen significant in view of the post-Copenhagen Summit on climate change where Bangladesh took the centre stage for its vulnerability to a shifting climate.

After its arrival in the capital, the delegation is scheduled to have discussions on finance opportunities and meet officials and visit existing energy and waste water treatment projects.

On April 11, the delegation members have scheduled meeting with Bangladeshi counterparts in a day-long match-making event, hosted by the Denmark Embassy, at a city hotel.

Commerce minister Lt Col (retd) Faruk Khan, energy adviser to the prime minister Towfiq-e-Elahi Chowdhury, president of Foreign Investors’ Chamber of Commerce and Industry AM Hamim Rahmatullah, Danish development minister Soren Pind and commercial counsellor at the embassy Morten Siem Lynge are expected to address the meeting.

On the following day, the delegation will fly to Chittagong where it would visit Danish-funded projects-Sea Resources and Fishers Shipyard and Coldplay. The delegation will also visit KAFCO and Western Marine Shipyard where a number of ships are being built for a Danish buyer. In Dhaka, the delegation will attend a high-profile energy seminar, organised by Bangladesh chapter of Paris- based International Chamber of Commerce.

Prime Minister Sheikh Hasina and the visiting Danish Development Minister are expected to open the seminar, followed by plenary sessions.

source:http://www.theindependent-bd.com/details.php?nid=168998

Entrepreneurs talk investments with Danish team

Entrepreneurs talk investments with Danish team
Keen on producing energy from alternative sources
Star Business Report

A matchmaking event that was attended yesterday by local entrepreneurs and a group of the visiting Danish businesspeople, specialised in renewable energy, opened up a scope of investments in energy-starved Bangladesh.

About 45 local energy and waste management companies had talks with the representatives from 10 Danish companies to have clean technology from their counterparts to produce energy from alternative sources.

“We’re ready to receive Danish technology to produce and generate renewable energy. It has great demand at this moment as our customers are suffering heavily for frequent power outages,” Anisur Rahman, senior manager of a renewable energy firm in Dhaka, said after the meeting.

The Danish Embassy in Dhaka and the Confederation of Danish Industries organised the meeting at Westin Dhaka.

Commerce Minister Faruk Khan, who inaugurated the event, urged the Danish to invest in the wind energy sector.

“Bangladesh has a long coastal belt across its southern part, while Danish companies have most sophisticated wind energy technology. Your wind energy firms can invest in this sector, which could be a great source of energy for Bangladesh,” Khan told the visiting team.

Dr Towfiq-e-Elahi Chowdhury, adviser to the prime minister, also pointed out that Bangladesh has challenges in energy and power production where Denmark can invest.

“The market is ready for about 150 million consumers and demand is increasing day by day for which investment in renewable and clean energy would be a safe and secured sector in Bangladesh,” Chowdhury said.

Danish Minister for Development Cooperation Soren Pind said Danish companies focus on energy and clean technology where both the Bangladeshi and Danish companies have much interest.

He said Denmark has for decades been a world leader in renewable energy, clean technology, waste water management and the Danish companies can offer technical know-how and invest in such sector in Bangladesh.

Pind praised Bangladesh labour force for its competitive wages and skills.

He hoped that Bangladesh, which emerged as a major apparel exporter, has every potential for many other sectors

The Danish minister assured that his country would extend its support in developing the private sector as Denish companies already formed an alliance with 70 Bangladeshi firms.

AM Hamim Rahmatullah, president of the Foreign Investors’ Chamber of Commerce and Industry, and Dr SA Samad, executive chairman of the Board of Investment, were also present at the meeting.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=134018

Entrepreneurs talk investments with Danish team

Entrepreneurs talk investments with Danish team
Keen on producing energy from alternative sources
Star Business Report

A matchmaking event that was attended yesterday by local entrepreneurs and a group of the visiting Danish businesspeople, specialised in renewable energy, opened up a scope of investments in energy-starved Bangladesh.

About 45 local energy and waste management companies had talks with the representatives from 10 Danish companies to have clean technology from their counterparts to produce energy from alternative sources.

“We’re ready to receive Danish technology to produce and generate renewable energy. It has great demand at this moment as our customers are suffering heavily for frequent power outages,” Anisur Rahman, senior manager of a renewable energy firm in Dhaka, said after the meeting.

The Danish Embassy in Dhaka and the Confederation of Danish Industries organised the meeting at Westin Dhaka.

Commerce Minister Faruk Khan, who inaugurated the event, urged the Danish to invest in the wind energy sector.

“Bangladesh has a long coastal belt across its southern part, while Danish companies have most sophisticated wind energy technology. Your wind energy firms can invest in this sector, which could be a great source of energy for Bangladesh,” Khan told the visiting team.

Dr Towfiq-e-Elahi Chowdhury, adviser to the prime minister, also pointed out that Bangladesh has challenges in energy and power production where Denmark can invest.

“The market is ready for about 150 million consumers and demand is increasing day by day for which investment in renewable and clean energy would be a safe and secured sector in Bangladesh,” Chowdhury said.

Danish Minister for Development Cooperation Soren Pind said Danish companies focus on energy and clean technology where both the Bangladeshi and Danish companies have much interest.

He said Denmark has for decades been a world leader in renewable energy, clean technology, waste water management and the Danish companies can offer technical know-how and invest in such sector in Bangladesh.

Pind praised Bangladesh labour force for its competitive wages and skills.

He hoped that Bangladesh, which emerged as a major apparel exporter, has every potential for many other sectors

The Danish minister assured that his country would extend its support in developing the private sector as Denish companies already formed an alliance with 70 Bangladeshi firms.

AM Hamim Rahmatullah, president of the Foreign Investors’ Chamber of Commerce and Industry, and Dr SA Samad, executive chairman of the Board of Investment, were also present at the meeting.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=134018

Entrepreneurs talk investments with Danish team

Entrepreneurs talk investments with Danish team
Keen on producing energy from alternative sources
Star Business Report

A matchmaking event that was attended yesterday by local entrepreneurs and a group of the visiting Danish businesspeople, specialised in renewable energy, opened up a scope of investments in energy-starved Bangladesh.

About 45 local energy and waste management companies had talks with the representatives from 10 Danish companies to have clean technology from their counterparts to produce energy from alternative sources.

“We’re ready to receive Danish technology to produce and generate renewable energy. It has great demand at this moment as our customers are suffering heavily for frequent power outages,” Anisur Rahman, senior manager of a renewable energy firm in Dhaka, said after the meeting.

The Danish Embassy in Dhaka and the Confederation of Danish Industries organised the meeting at Westin Dhaka.

Commerce Minister Faruk Khan, who inaugurated the event, urged the Danish to invest in the wind energy sector.

“Bangladesh has a long coastal belt across its southern part, while Danish companies have most sophisticated wind energy technology. Your wind energy firms can invest in this sector, which could be a great source of energy for Bangladesh,” Khan told the visiting team.

Dr Towfiq-e-Elahi Chowdhury, adviser to the prime minister, also pointed out that Bangladesh has challenges in energy and power production where Denmark can invest.

“The market is ready for about 150 million consumers and demand is increasing day by day for which investment in renewable and clean energy would be a safe and secured sector in Bangladesh,” Chowdhury said.

Danish Minister for Development Cooperation Soren Pind said Danish companies focus on energy and clean technology where both the Bangladeshi and Danish companies have much interest.

He said Denmark has for decades been a world leader in renewable energy, clean technology, waste water management and the Danish companies can offer technical know-how and invest in such sector in Bangladesh.

Pind praised Bangladesh labour force for its competitive wages and skills.

He hoped that Bangladesh, which emerged as a major apparel exporter, has every potential for many other sectors

The Danish minister assured that his country would extend its support in developing the private sector as Denish companies already formed an alliance with 70 Bangladeshi firms.

AM Hamim Rahmatullah, president of the Foreign Investors’ Chamber of Commerce and Industry, and Dr SA Samad, executive chairman of the Board of Investment, were also present at the meeting.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=134018

Tata plans to invest $18m

Tata plans to invest $18m

Star Business Report

Tata International Ltd will invest $18 million in footwear and bicycle industries in Bangladesh within the next one year, said a business delegation of the Indian conglomerate yesterday.

Tata has earmarked $10 million for footwear and $8 million for bicycle industry, said Matlub Ahmed, president of India-Bangladesh Chamber of Commerce and Industry, after the chamber and the delegation met Commerce Minister Faruk Khan at the latter’s secretariat.

“Tata will start preliminary works for setting up the shoe factory within the next six months and for the bicycle plant within the next one year,” Matlub said.

He also said the Indian side has already signed a memorandum of understanding (MoU) with his Nitol-Niloy Group in this regard.

“Tata may invest in coal-based power plant in near future,” said an official of the chamber, requesting anonymity.

Also, Indian jeans brand Arvind will invest $90 million, Matlub said, but could not confirm when.

He said Indian Ravi Motors has signed an MoU with local GMG Group to set up a satellite town in Dhaka.

Syamal Gupta, a special adviser to Tata International, is leading the Indian business team.

After the meeting with the commerce minister, Gupta said Tata has shifted the focus of its investment plans in Bangladesh. “It now plans to invest in footwear, bicycle and IT sectors.”

The commerce minister said almost all tariff and non-tariff barriers in the bilateral trade will be removed within June-July as both India and Bangladesh have already identified the barriers.

He said the secretary-level meeting of the countries will be held on May 7 to help resolve the issues of tariff and non-tariff barriers.

A minister-level meeting will follow the recommendations of the secretary-level meeting and make sure that the barriers will go, Faruk Khan said.

source:http://www.thedailystar.net/newDesign/news-details.php?nid=134177

Construction of netloft making factory begins

Construction of netloft making factory begins
A Z M Anas

Chittagong, Apr 12: The country’s move toward modernising its deep-water fishing got a boost after a Bangladeshi company tied up with its Danish counterpart to manufacture advanced fishing equipment here.

Sea Resources Ltd (SRL) of Bangladesh and Cosmos Trawl Ltd of Denmark have started building a state-of-the-art netloft making factory in the port city of Chittagong to make sure the catch of fish resources abundant in the Bay of Bengal is more efficient without harming future stock.

“The joint venture is an example … how the private sector can show the new way of doing business,” Danish development minister Soren Pind said today while inaugurating the construction of factory premises on the bank of the Karnaphuli.

The latest effort came as outdated and inefficient methods and equipment handicapped Bangladesh’s deep-water fishing for decades, resulting in lower fish catch and low profitability among local fisheries companies.

The minister said the Danish technology and know-how would play a critical role in helping Bangladesh change the way fishing is done in Bangladesh.

Mr Pind, now on a trip to Bangladesh and is leading a 12-member Danish business team, said Danish investors are exploring the potential for investment in Bangladesh and is keen to capitlaise on what he called “competitive labour force.”

Over the years, he said, the Danish business engagement in Bangladesh has increased in many areas, from mere grants and loans support.

Mr Pind said a 21-member Danish business team came in November last to seek investment opportunities in shipbuilding and fisheries.

He said Bangladesh has “great potential” for growth and it has also been labelled as “one of the frontier five” by JP Morgan and among the seven hottest emerging markets by Investor Chronicle.

Chittagong city mayor ABM Mohiuddin Chowdhury and Ambassador of Denmark in Dhaka Einer H Jensen, chairman of SRL MA Rouf Choudhury and managing director of SRL-Cosmos Trawl Ltd Lars Jensen also spoke at the inaugural.

The joint venture is part of Denmark’s B2B programme, which has been operational since 2008 for the Bangladeshi fishing and shipbuilding industry.

source:http://www.thefinancialexpress-bd.com/more.php?news_id=97530&date=2010-04-13

Jute geo textile has huge scope for international use

Jute geo textile has huge scope for international use

UNB, Dhaka

There is immense potential for jute geo textile both in domestic and international market as it possesses much more advantages than the synthetic fibers.

“Jute geo textile has got immense potential. It is used in controlling soil erosion – of roadside, riverbanks and hillsides,” said Dr. Latifa Binte Lutfar, operations officer of International Jute Study Group (IJSG).

Citing that neighboring India is using jute geo textiles in the construction of national roads, she said that this could also be used in road construction to a large extent in Bangladesh.

Mentioning some of the advantages of jute geo textile, Dr Latifa said that jute geo textile is biodegradable and it doesn’t spoil the nutrition of soil. It is highly hygroscopic and could suck water as well as help consolidate soil, enhance the flexibility of soil and above all, it is cheaper than the synthetic fibers.

“This item can be produced in our local mills as we have access to raw materials,” she said adding that the jute geo textiles could be made even from inferior jute.

Dr Latifa informed that jute geo textile has so far been used locally in two projects-Hatirjheel project and the road from Prime Minister’s office to Agargaon in the capital.

Jute geo textile is a textile to address geo technical problem, she said. Geo textiles are of different kinds-coir geo textiles, jute geo textiles and blend of different fibers.

Dr. Latifa informed that a five-year project, titled ‘Development and Application of Potentially Important Jute Geo Textile’, is underway in Bangladesh and India under the auspices of Common Fund for Commodities (CFC) to promote jute geo textile.

Of the total project cost of US$ 3.962 million, CFC is providing $ 2.045 million, Indian counterpart contribution is $ 1.24 million while Bangladesh counterpart contribution $ 0.567 million.

IJSG is the supervising agency of the project while Jute Diversification Promotion Center (JDPC) is the collaborating institution. BJRI, BUET, BJMC, WDB, LGED and RHD will work as facilitating agencies. Under the project, there will be 26 field trials — 16 in India and 10 in Bangladesh. The trials would be held by the facilitating agencies while JDPC will coordinate their works.

Talking to UNB, JDPC director Md. Mainul Hoque said jute geo textile is now being used globally, including USA and Australia.

Mentioning that jute geo textile is more environment friendly than traditional geo textiles, he noted that Bangladesh is the major contributors of jute geo textiles.

“It’s a new idea and if the use of geo textiles could be increased, the demand of jute would further rise as also its cultivation,” Hoque said.

He informed that Latif Bawany Mills under state-owned BJMC and privately-owned Janata Jute Mills are now exporting jute geo textiles to different destinations including EU, Australia and Canada.

Deputy managing director of Janata Jute Mills Mahmudul Huq said they export around 2,000-2,500 metric tons of jute geo textiles per year.

About the prospect of the product, he said although there is a bright potential they are not in a position to increase their production capacity due to machinery problem and unstable jute price. “The manufacturing base should also be widened.”

Other areas where geo-textiles can be effectively used include management of eroding slopes of roads and railway embankments, mild landslides, prevention of railway track settlement, river embankment and management of solid waste.

source:http://www.theindependent-bd.com/details.php?nid=169942