Bangladesh is planning to set up a urea fertilizer factory in the Kingdom of Saudi Arabia (KSA) through joint-venture investment.
The information was revealed at a meeting between Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman and Saudi Commerce and Media Minister Majid bin Abdullah Al Qasabi at Saudi Arabia on Tuesday, said a press release here today.
During the meeting, they discussed various bilateral issues, including trade and investment and setting up fertilizer factory in the KSA.
Salman F Rahman urged the Saudi minister to support the initiative of setting up urea fertilizer factory in Saudi Arabia.
He also sought assistance for ensuring duty-free entry of 213 products from Bangladesh into Saudi Arabia.
In his speech, Majid bin Abdullah Al Qasabi assured Salman F Rahman to provide all sorts of support to Bangladesh in setting up the Urea fertilizer factory and duty-free access into Saudi Arabia.
After the meeting, Salman F Rahman met Chief Executive Officer (CEO) of the Saudi Basic Industries Corporation (SABIC) Abdul Rahman Al-Fagi.
During the meeting, a concept note of the proposed JV fertilizer factory was presented.
Abdul Rahman Al-Fagi welcomed the concept note and gave consent to take next steps to this end.