HYDERABAD, June 29 — Twelve Chinese companies proposed investments worth US$9.2 billion in Bangladesh during Prime Minister Tarique Rahman’s June 22 to 26 China visit, Bangladesh’s state media reported on Sunday.
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 US$650 million 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 US$4.5 billion. The group seeks to develop the Dhaka-Chattogram highway in a public-private partnership.
Shanghai SUS Environment Company plans to invest US$890 million in developing waste-to-energy (WTE) plants, while China Future Energy Group Holding Limited has a US$250 million plan for gas field exploration and development, BSS reported.
Zhongxin Environmental Protection Group has proposed investing US$1.65 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 US$190 million.
Other projects include Shenzhen Kaifa Technology’s plan to invest US$250 million in manufacturing electric smart metres and SF Express’s US$180 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.
