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Bangladesh to set up urea fertilizer factory in KSA

BSS . Dhaka
01 Mar 2023 17:24:06 | Update: 01 Mar 2023 17:24:06
Bangladesh to set up urea fertilizer factory in KSA
— File Photo

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.