Saudi Arabian company Engineering Dimension International Investment (EDII) recently opened its office in Dhaka, says a press release.
Taking approval of Bangladesh Investment Development Authority (BIDA), EDII opened its office at Gulshan Avenue in the capital on 13 January.
The Saudi company opened its Dhaka office following a joint venture investment agreement signed with Bangladesh Chemical Industries Corporation (BCIC) on 29 June, 2020, for setting-up of an integrated clinker and cement plant, said the media statement.
Saudi Arabian ambassador to Bangladesh Essa Yusuf Essa Al Dulaihan attended the inaugural ceremony as the chief guest while BIDA Executive Chairman Sirazul Islam, and Additional Secretary to Industries Ministry Shibnath Roy were present as special guests.
Bangladeshi Ambassador to Saudi Arabia Dr Javed Patwary and EDII President Mohammad Najeeb M Hejji attended the opening ceremony virtually due to travel restrictions because of Covid situation. Top BCIC officials and other dignitaries were also present at the ceremony.
All the distinguished guests prayed for the successful and speedy implementation of this initiative which will encourage other Saudi Investors to invest further in Bangladesh.
Earlier, following the visit of Prime Minister Sheikh Hasina to Saudi Arabia on 17 October, 2018, a MOU was signed for setting-up a cement and clinker manufacturing factory at Chhatak in Sunamganj with a production capacity of 12,000 tonnes clinker and 3,000 tonnes of cement per day.
Besides creating huge employment opportunities, the project will cater to the demand of the clinker-based cement factories in Bangladesh by supplying four million tonnes of clinker per annum against the country's import of nineteen million tonnes per annum, saving $225 million annually.
The total investment in the project has been estimated at about $450 million (Tk4,000 crore).