HYDERABAD, India: Twelve Chinese companies proposed investments worth USD9.2 billion (approx. RM38.1 billion) in Bangladesh during Prime Minister Tarique Rahman’s June 22 to 26 China visit, Bangladesh’s state media reported today.
Bangladesh is looking to attract Chinese investment in sectors such as energy, infrastructure, logistics, manufacturing and education, and the investments are expected to create tens of thousands of jobs.
“China will strengthen cooperation with Bangladesh in trade, e-commerce, industrial and supply chains, and investment, in order to upgrade its export capacity and jointly uphold the multilateral trading system,” said a joint communiqué issued on Friday at the end of Tarique’s visit.
A key part of the Bangladesh-China cooperation is Mongla Port, in which the two countries have agreed to jointly modernise and expand the port’s facilities.
China Civil Engineering Construction Corporation (CCECC) has offered USD650 million (approx. RM2.70 billion) to develop and operate the Mongla Port Economic Zone, including warehousing and logistics infrastructure, news agency Bangladesh Sangbad Sangstha (BSS) reported.
China and Bangladesh have also agreed on the creation of a Chinese industrial park in Chattogram.
The biggest investment is from Sichuan Road and Bridge Group at USD4.5 billion (approx. RM18.66 billion). The group seeks to develop the Dhaka-Chattogram highway in a public-private partnership.
Shanghai SUS Environment Company plans to invest USD890 million (approx. RM3.69 billion) in developing waste-to-energy (WTE) plants, while China Future Energy Group Holding Limited has a USD250-million (approx. RM1.04 billion) plan for gas field exploration and development, BSS reported.
Zhongxin Environmental Protection Group has proposed investing USD1.65 billion (approx. RM6.84 billion) in an e-waste project in the Payra Port Industrial Zone on the Bay of Bengal.
Huaxin Textile Industry Company Limited plans to set up a 200 MW captive solar power plant in the Payra economic zone, as well as expand recycled cotton and yarn production, and manufacture cylindrical lithium batteries with an investment of USD190 million (approx. RM787.7 million).
Other projects include Shenzhen Kaifa Technology’s plan to invest USD250 million (approx. RM1.04 billion) in manufacturing electric smart metres, and SF Express’s USD180-million (approx. RM746.3-million) project to develop cold-chain logistics and warehouse facilities in Mongla, about 230 kilometres from Dhaka.
More Chinese investments in Bangladesh would help reduce the country’s trade deficit with China, Bangladesh Commerce Minister, Khandakar Abdul Muktadir, said on Saturday. – BERNAMA
