Photo: Collected
Meghna Cement Mills PLC and Bashundhara Industrial Complex Limited (BICL) have signed a memorandum of understanding (MoU) with China’s Guangxi Yufeng Co Limited. The initiative aims to raise production capacity in the country’s cement industry, introduce modern technology and create new investment prospects. Under the agreement, the companies will work on technology transfer, exchange of technical knowledge and the potential for strategic investment.
The memorandum was signed on Wednesday at an event held at Bashundhara Super Golf in the capital. Safwan Sobhan, Chairman of Safwan Bashundhara Global, signed on behalf of Meghna Cement and BICL, while Guangxi Yufeng was represented by its Chairman Lei Zhenbin.
Under the memorandum, the Chinese company has agreed to provide significant investment and technological support to Meghna Cement and BICL. The two sides will work jointly on transferring modern cement production technology, developing skills and making the production process more efficient. Discussions will continue in the coming days to determine the specific areas of cooperation and the methods of implementation.
The event was held under the theme ‘Bangladesh and China: Building the Future Together’. Speakers there said the partnership would strengthen commercial ties between Bangladesh and China on the one hand, and could contribute to modernising the country’s cement industry on the other. They also noted that combining the experience, technology and expertise of industrial enterprises in the two countries would create opportunities to increase production capacity and expand areas of joint investment in future.
Shahed Zahid, Chief Operating Officer (COO) of Bashundhara Industrial Complex, said Guangxi Yufeng has considerable experience in improving efficiency at cement factories and industrial enterprises. He said this cooperation could prove important in dealing with the obstacles that have emerged in the supply chain because of current volatility in the global market, complications in transporting goods by sea and wars in various regions.
Shahed Zahid further said they plan to make the supply chain more efficient and effective by drawing on Guangxi Yufeng’s technological knowledge and experience. At the same time, improving their own production process and technological capability by learning from the Chinese company is another objective of the partnership.
Guangxi Yufeng Chairman Lei Zhenbin said Sinoma Xiamen is one of the oldest and largest enterprises in China’s cement manufacturing industry. The company has an integrated supply chain and advanced production technology in the cement sector. He said they are pleased to have the opportunity to cooperate with Safwan Bashundhara Global as well as to further strengthen relations between Bangladesh and China. Through the joint initiative, they want to contribute to the transformation and development of Bangladesh’s cement industry.
Officials at various levels of Meghna Cement Mills PLC, BICL and Safwan Bashundhara Global attended the event. Guangxi Yufeng was represented by its Deputy Chief Engineer Deng Yulian and other officials.
Also present were Qin Yanxiong, Chairman of Sino BD Energy Private Limited, General Manager Ye Zhenhong, and Wei Guanghai, Chairman of Yunhai Mining Group.
Meghna Cement and BICL said the memorandum with Guangxi Yufeng will create new opportunities for exchanging technology and experience. The two companies expect that it will increase cement production capacity, improve the efficiency of industrial operations and pave the way for expanding joint ventures in future
