US remains the top buyer for Bangladesh

http://www.theindependentbd.com/business/others/24311-us-remains-the-top-buyer-for-bangladesh.html

US remains the top buyer for Bangladesh
Export growth to Germany, UK, France steady for July-October FY 2010-11
Mashiur Rahaman

Dhaka, Dec 16: Export from Bangladesh to key North-American and European destinations maintained its healthy growth in the first four months (July-October) of the current fiscal (2010-11) compared to the corresponding period of fiscal 2009. Export earnings from USA, the largest market for Bangladeshi goods, notched a robust growth in the first four months (July-October) of the current fiscal totaling US$ 1626.05 million.

According to data compiled by the state-run Export Promotion Bureau (EPB), USA accounts total 24.19 per cent of the country’s total export during the period. Its export grew by 41.47 per cent against the export of US$ 1149.43 million, recorded during the corresponding period of FY 2009-10.

In July-October 2010, exports to Germany totaled US$ 974.53 million, which was 14.50 per cent of the total export earnings. The European state maintained its position as the second largest export destination for Bangladeshi products, largely driven by the soaring demand of knitwear garments.

According to export data compiled by EPB, Bangladeshi exporters supplied knitwear garments worth US$ 614.86 million, woven garments worth US$ 286.33 million and frozen foods worth US$ 16.82 million. Readymade garments export to Germany during the July-October period of FY 2010-11 against the corresponding period of its previous fiscal year was 38.68 per cent up at US$649.84 million, according to EPB data.

United Kingdom (UK) is the third largest importing country for Bangladeshi goods, exported total US$ 614.66 million during July-October FY 2010-11 period, which was 9.14 per cent of the total export earnings.

The export of RMG items accounted for US$ 506.14 million, compared to US$ 411.40 million in July-October 2009 showing an 23.03 per cent growth. Other significant export to the UK was Home Textiles US$23.56 million, Frozen Foods US$ 20.77 million and bicycle US$ 27.48 million.

Exports to France during the four months increased to US$ 413.90 million which accounted for 6.16 per cent of the total export earnings. RMG export to France rose to US$ 375.17 million in July-October of the current fiscal from US$ 282.08 million during the period in fiscal 2009-10, showing a 33.0 per cent growth.

Exports to Italy totaled US$ 223.89 million in July-October 2010 with knitwear accounting for US$ 132.81 million, woven garment US$ 63.18 million and leather US$  8.02 million.

Exports to Belgium amounted to US$ 173.43 million that included knitwear US$ 66.03 million, woven garment US$ 42.53 million, frozen shrimps US$ 83.17 million, and jute yarn and twine US$ 8.13 million.

Exports to Netherlands amounted to US$ 413.98 million that included knitwear US$ 234.17 million, woven garment US$ 413.98 million and frozen shrimps US$ 23.99 million.

Among the Middle East, Far East and South Asian countries, exports to Iran totaled US$ 30.83 million, Japan US$ 118.20 million, Singapore US$ 41.15 million and China US$ 79.76 million.

Among the South Asian countries, exports to India amounted to US$ 139.34 million that included jute and jute made goods US$ 42.38 million and woven garment 8.32 million while exports to Pakistan totaled US$ 24.27 million including jute and jute made goods US$ 20.97 million.

New insulin plant opens

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New insulin plant opens
Product to be available in Oct
Staff Correspondent

A high-tech insulin manufacturing plant opened in Bangladesh yesterday amid hopes of providing world-class medicines to the country’s growing diabetic patients.

The plant in Tongi is a tie-up between the world’s biggest insulin maker Novo Nordisk and Eskayef Bangladesh Ltd, a leading local pharmaceutical company, which will start selling drugs in the local market in October next year.

Lise Kingo, executive vice president and chief of staff of Novo Nordisk, inaugurated the plant on the premises of Eskayef.

The Nordisk-Eskayef plant will manufacture over 5 million vials a year, maintaining the high quality standards followed by Novo Nordisk across the world.

Senior Vice President of International Operations Jesper Høiland, Vice President for Oceania and South East Asia Sanjeev Shishoo, Bangladesh Diabetic Association President Prof AK Azad Khan and Eskayef Director Simeen Hossain were present at the inaugural.

Kingo said producing insulin drugs in local settings has become important for Bangladesh, as the number of diabetic patients has increased in the country as elsewhere in the world.

“With Eskayef as our partner, we will continue to work to improve the lives of the people in Bangladesh,” she said.

Simeen Hossain said the joint venture represented a milestone in the history of Eskayef. “There would be no compromise in delivering quality products,” she assured.

Jesper Høiland said there would be proper technology transfer under the joint venture, as Novo Nordisk believes in uniform global standard.

He said the tie-ups among Novo Nordisk, Eskayef and Diabetic Association would make a significant difference in looking after patients with diabetes.

Novo Nordisk officials were in Dhaka yesterday to attend the inauguration of the insulin making plant.

During the ceremony, they also expressed confidence that the plant would be able to make quality insulin matching global standards.

They also inspected Eskayef’s various departments and facilities, particularly the manufacturing unit, quality control measures and water treatment plant and expressed satisfaction.

The partnership deal, signed in 2009, has facilitated establishment of the hi-tech plant to make these sophisticated biotechnological products in Bangladesh.

The plant, the third set up by the company in Asia after China and India, opened at a time when nearly 6 million Bangladeshis are said to be suffering from diabetes.

The number is expected to cross 10 million in the next 20 years due to changes in lifestyle, rapid urbanisation, obesity, lack of physical work and ageing of people.

Novo Nordisk enjoys more than 80 percent share in the insulin segment of diabetic care market in Bangladesh.

A Rajan Kumar, managing director of Novo Nordisk Pharma Pvt Ltd, and general managers of Eskayef were also present on the occasion.

Grameen Healthcare teams up with Uniqlo

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Grameen Healthcare teams up with Uniqlo

Prof Muhammad Yunus, chairman of Grameen Healthcare Trust, and Yukihiro Nitta, managing director of Uniqlo Social Business Bangladesh, sign a joint venture agreement to produce high-quality clothing in Bangladesh as a social business at a ceremony at the Grameen headquarters in Dhaka yesterday. Photo: Yunus Centre Star Business Desk

Grameen Healthcare Trust yesterday went into a joint venture agreement with Uniqlo Social Business Bangladesh Ltd, the social business division of Japan’s leading clothing retailer Uniqlo.

The venture aims to establish a new social business in the field of ‘functional clothing’, with a focus on healthcare, for the poor in Bangladesh, said a statement.

Professor Muhammad Yunus, chairman of Grameen Healthcare, and Yukihiro Nitta, managing director of Uniqlo Social Business Bangladesh, signed the deal at the Grameen headquarters in Dhaka.

The company will be named Grameen Uniqlo, in line with a memorandum of understanding signed with the Yunus Centre in July this year.

The company, a social business, will return the principal amount to the investors, but nothing beyond that.

Grameen Uniqlo is currently conducting test marketing in Tangail and Gazipur.

The objective of the venture is to improve people’s daily lives by offering high-quality products at affordable prices, which can help alleviate health and sanitation problems and provide educational opportunities for the poor.

“We are delighted to partner with Uniqlo to create a social business in clothing. This will start with functional clothing distribution and reusable sanitary napkins, but we hope to expand our services in future,” said Yunus.

Grameen Healthcare Trust is a non-profit organisation established under Trust Act of Bangladesh to provide healthcare services to low-income group in the rural areas.

Uniqlo is a subsidiary of Fast Retailing Co, a Japanese retail renowned for its strategic focus on innovation in production, quality control and distribution.

World-standard insulin to be made in Bangladesh

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World-standard insulin to be made in Bangladesh
Novo Nordisk and Eskayef Bangladesh pair up

Lise Kingo, executive vice president and chief of staff of Novo Nordisk, speaks to The Daily Star at Dhaka Sheraton Hotel yesterday. Prof AK Azad Khan, left, Bangladesh Diabetic Association president; Jesper Høiland, second from right, senior vice president of Novo Nordisk, and Sanjeev Shishoo, extreme right, vice president for Oceania and South East Asia, are also seen. Photo: shawkat jamil

Sohel Parvez

It was two hours before midnight. An aged woman, arms clasped and covered by a chador against cold, slowly entered a thinly crowded drug store. She gripped a vial as she approached the salesperson.

The store assistant appeared to be familiar with the woman, who handed a vial and syringe, and asked him to push inject her right arm. It is filled with insulin, named Mixtard 30, made by Novo Nordisk.

To date, this insulin brand, Mixtard, comes from Denmark, the base of Novo Nordisk, the global leader in diabetes care. But within a year, no import of such insulin from the Scandinavian country will be required.

The drug will be made at Tongi near Dhaka thanks to a tie-up between the world’s biggest insulin maker Novo Nordisk and Eskayef Bangladesh Ltd, a leading local pharmaceutical company.

The partnership deal, signed in 2009, has facilitated establishment of a hi-tech plant to make these sophisticated biotechnological products here.

The Nordisk-Eskayef plant opens today to manufacture over 5 million vials a year, maintaining the high quality standards followed by Novo Nordisk across the world.

“We’ve one global standard. So everywhere you will have insulin of exactly the same standard,” said Lise Kingo, executive vice president and chief of staff of Novo Nordisk.

Kingo shared his view in an interview with The Daily Star at Dhaka Sheraton Hotel yesterday.

Senior Vice President of International Operations Jesper Hoiland, Vice President for Oceania and South East Asia Sanjeev Shishoo and Bangladesh Diabetic Association President Prof AK Azad Khan were also present.

Novo Nordisk officials are in Dhaka to attend the inauguration of the insulin making plant.

They expressed confidence that Eskayef backed by a leading business conglomerate, Transcom Group, would be able to make quality insulin here as per the global standard.

“We’re very pleased that we’ve partnered with Eskayef. Transcom is behind it. It’s (Trancom) a very professionally run company that is working in many different areas and we feel very comfortable that we’ve found the right partner for this collaboration,” Jesper Hoiland said.

“And we’ve so far done very fine and lived up to our expectation,” he added.

The groundwork for the tie-up began four years ago. Novo Nordisk and Eskayef inked the deal in November of 2009, after global diabetic care giant became confident that the Bangladeshi company would be able to make quality insulin by following the single global standard of Novo Nordisk.

The plant, one of the three in Asia after China and India, is going to be opened at a time when nearly 6 million Bangla-deshis suffer from diabetes. The number is expected to cross 10 million in the next 20 years due to changes in lifestyle, rapid urbanisation, lack of work and obesity and ageing of people.

At present, some 20 percent of the diabetic patients get care through the network of the diabetic association, with which Novo Nordisk also partners in educating health care professionals and creating public awareness about the disease.

Such partnership has not only helped create awareness and educate healthcare professionals but also allowed Novo Nordisk to record high demand for its products.

The company enjoys more than 80 percent share in the insulin segment of diabetic care market in Bangladesh.

Kingo said the plant in Bangladesh will increase the availability of its products on the local market.

Besides, the plant will also help leverage the expertise of local population, transfer technology and benefit society.

Shishoo said the establishment of the manufacturing base in partnership with Eskayef shows Novo Nordisk’s confidence in Bangladesh.

“It’s a tremendous sign of confidence. We’re very selective about the countries where we start production,” he said.

“It’s not a normal 24-hour routine, but it’s also a confidence in our partners like Eskayef that we can set up a world-class plant which can deliver the insulin of the highest quality.”

Jesper Hoiland said the factory in Dhaka would also have an impact on the work force.

“It will have impact on society,” he said, pointing out that Bangladesh is one of the countries that handle well the issues of diabetes caring.

“I’m always using Bangladesh as a role model because you’ve really done a world class job of looking after patients with diabetes,” said Hoiland, pointing to the network and care solutions provided by Bangladesh Diabetic Association.

Kingo said he admired Bangladesh’s effort for diabetes care and said Novo Nordisk has been working for many years educating doctors and nurses how to treat people with diabetes.

The 87-year-old Novo Nordisk, which has been operating in Bangladesh since 1972, also supports BADAS to provide care to underprivileged children with diabetes.

sohel@thedailystar.net

CEPZ exports goods worth $604m

http://www.thefinancialexpress-bd.com/more.php?news_id=120186&date=2010-12-15

CEPZ exports goods worth $604m
Our Correspondent

CHITTAGONG, Dec 14: The CEPZ authority said it has exported goods worth US $604 million in the last five months of the current fiscal until November 2010 against the export target of US$ 1450 million in the fiscal 2010-2011.

In the last fiscal year the factories in the Chittagong Export Processing Zone (CEPZ) exported goods worth US$ 1334 million.

$53m Saudi grant for elevated expressway

http://www.thefinancialexpress-bd.com/more.php?news_id=120230&date=2010-12-15

$53m Saudi grant for elevated expressway

Saudi Fund for Development (SFD) has approved 200 million Saudi Riyals for financing the construction of Dhaka Elevated Expressway (DEE). The amount is approximately US$ 53.33 million. The Cabinet on August 23 approved the route of the long-awaited elevated expressway. — Press release

Brighter prospect for shipbuilding: UK Naval Architect

http://www.bssnews.net/newsDetails.php?cat=0&id=149051&date=2010-12-10

Brighter prospect for shipbuilding: UK Naval Architect

DHAKA, Dec 10 (BSS) -) The country’s growing shipbuilding industry will grab a sizable number of global market share in the coming days due to its cheaper labour cost and energetic manpower, says Trevor Blakeley, Chief Executive Officer of the Royal Institution of Naval Architects (RINA today.

Appreciating Bangladesh’s shipbuilding facilities RINA, a top platform of naval architects in the United Kingdom, executive also observed that Bangladesh has performed well in the global maritime industry in the last few years at a time when many developed and developing countries could not do so during the global financial recession.

He was talking to journalists after he visited Ananda Shipyard and Slipways Ltd (ASSL), one of the leading shipbuilders of the country, at Meghnaghat under Sonargaon upazila of Narayanganj district.

Trevor went round different units of the shipyard and appreciated shipbuilding facilities. Apart from Trevor Blakeley, three other international naval experts were also present during the visit. They are Prof Piri Reis University of Turkey, Associate Prof Motohiko Murai of division of Artificial Environment and Information of Yokohama National University of Japan and Prof Dr S Surrendran of Department of Ocean Engineering of India.

CEO of ASSL Commodore (rtd) SM Monir briefed the expert team highlighting different shipbuilding facilities of the shipyard.

Prof Refayet Ullah of Bangladesh University of Engineering and Technology, ASSL Chairman Dr Abdullahel Bari, managing director Afruja Bari, Deputy Managing Director Abdullah Nahid Nigar and Executive Director M Tariqul Islam were present, among others.

While briefing the expert team, SM Monir said the ASSL has so far exported eight vessels (2900 deadweight tonnage each) to Denmark, Mozambique and Maldives and 10 ships ranging from 5500 to 6100 dwt are being built and two more (7250dwt each) would be started to be built soon.

The expert team made the visit at the shipyard on the eve of the two day international conference on Marine Technology (MARTEC-2010) that begins tomorrow in the BUET conference rooms.

The RINA and department of Naval Architecture and Marine Engineering of the BUET are jointly organizing the conference. Such kind of high profile conference is going to be held for the first time in Bangladesh. Apart from host Bangladesh, more than 200 experts from UK, Korea, Turkey, India, Japan, Singapore and Malaysian are expected to take part in the international conference, organizers said. A total of 28 stalls will also be set up on the occasion. Bangladesh’s leading shipbuilders including Ananda, Western Marine will display marine technology products in the stalls, said the organizers.

Govt will develop BUET labs for testing shipbuilding

http://www.thefinancialexpress-bd.com/more.php?news_id=119995&date=2010-12-13

Govt will develop BUET labs for testing shipbuilding
FE Report

The government will develop Bangladesh University of Engineering & Technology (BUET) laboratories in a bid to set up testing laboratories of international standard for shipbuilding industries, commerce minister Faruk Khan said Sunday.

The commerce minister said the government will take necessary steps to develop these laboratories and he urged the BUET authority to send their proposal.

He said this while addressing at the concluding session of Marine technology (Martech 2010) organised by Department of Naval and Architecture and Marine Engineering at the BUET council building.

Local and foreign researchers, scientists and engineers participated in the three-day international conference.

Faruk Khan said, “This year the export earning target is US$18.5 billion but we are expecting $20 billion. Shipbuilding industries will play a crucial role in this connection and it will be one of the major sectors in near future.”

The minister handed over crests and gifts to Ananda Shipyard, Western Marine and Khulna Shipyard that have acquired first, second and third positions respectively in the exhibition.

Martech 2010 celebrating committee chairman Gazi Mohammad Khalil presided over the concluding session while BUET Vice Chancellor SM Nazrul Islam, pro-Vice Chancellor M Habibur Rahman and Prof Md Sadiqul Bari spoke in the session.

DCCI hails Industrial Policy

http://www.thefinancialexpress-bd.com/more.php?news_id=119846&date=2010-12-12

DCCI hails Industrial Policy
FE Report

Dhaka Chamber of Commerce & Industry (DCCI) has welcomed approval by the cabinet of the draft of the National Industrial Policy-2010 as it provides for supporting sick industries both in private and public sectors to create an industry-friendly environment. The draft policy stipulates protection for ‘sensitive and vulnerable’ industries in national interest.

It also encourages both foreign and local investments under public-private partnership initiatives for industrial development of the country. Updated from the 2005 industrial policy, the draft also proposes to develop special economic zones in poverty-hit Rajshahi and Rangpur divisions, according to an editorial of DCCI Review of October issue.

Earlier on February 18, the cabinet committee on economic affairs had sent back the proposed industrial policy suggesting major changes to make the policy compatible with the growing needs of the country. The suggestions included incorporation of responsibility for environmental protection, guidelines for making state-owned enterprises profitable, and outsourcing for industrial sector. The draft that classifies industries in five categories – large, medium, small, micro and cottage – emphasizes development of medium and small industries. It provides for privatization of the state-owned enterprises ensuring alternative employment for the workers and employees. The policy targets that the gross domestic product would reach eight per cent growth by 2013 and 10 per cent by 2017.

DCCI hopes that the Industrial Policy would further boost GDP growth meaning more output, employment and income and, in consequence, more wellbeing for the people. The new Industrial Policy should help Bangladesh achieve higher economic growth. DCCI expects GDP growth to exceed 7 per cent if the directives mentioned in the policy are properly implemented.

DCCI is of the opinion that the Industrial Policy should play a vital role in fulfilling the government target of 40 per cent contribution of industrial sector to the national income and increase employment generation by around 25 per cent within 2021. Chamber is happy that the Industrial Policy has recognized the vital role of the Small and Medium Enterprises (SME) sector as it has received priority as the government, like the DCCI, believes this sector will help keep the wheels of the country’s economy running.

DCCI fully shares the government’s efforts to upgrade Bangladesh to a middle income country through raising contribution of its industrial sector to the national economy up to 40 per cent from the existing 28 per cent. Doubtlessly, the country’s industrial and investment policies have been liberalized to open new investment avenues through creating a sound environment for the entrepreneurs. Under the new Industrial Policy, there should be a package of import duty on capital machineries based on advantaged and disadvantaged areas for ensuring balanced development of the country. DCCI welcomes the Industry Policy’s thrust on mopping up remittances for productive uses by encouraging the non-resident Bangladeshis to invest in the country.

Their investments would henceforth be considered as foreign investments. But then measures should be taken for creating massive infrastructure facilities including setting up of economic zones at industrially disadvantaged areas of the country like greater Rangpur, Dinajpur and Rajshahi districts and incentives should be given to those areas. What is vitally important for execution of all lofty aims of the new Industrial Policy is provision of gas and power to industrial units. Otherwise, the Industrial Policy will remain a mere mirage, not reality.

People to see case updates, verdicts online

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SC goes digital
People to see case updates, verdicts online
Ashutosh Sarkar

As part of a move to reform the judiciary, the Supreme Court has started updating its website with details of the cases heard and disposed at the Appellate and the High Court divisions every day.

The SC website www.supremecourt.gov.bd also contains the daily cause list of both its divisions with the names of the benches that will hear cases.

The apex court initiated the move in October on an experimental basis.

A Supreme Court official told The Daily Star last week that the site would take a good shape in a few weeks.

The official said the outcome of a day’s hearing will be uploaded on the site within hours after the court order. It will help the litigants to decide immediately on their next course of action.

One can also download almost all the existing laws of Bangladesh from the site.

“The chief justice has taken the initiative to reform the judiciary,” said SC Registrar M Asharaful.

He hoped it would restore people’s trust in the judiciary and reduce sufferings of the litigants.

Preferring anonymity, an SC official said, the apex court requested the law ministry to allocate Tk 5 crore for upgrading the site with details of cases at lower courts, and the ministry responded positively.

The CJ also held meetings with lower court judges and directed them to dispose of cases in a short time.

On October 30, he instructed judicial magistrates to dispose of all cases filed before 2005 holding quick hearings on a priority basis.

Some 16 lakh cases now remain pending with lower courts across the country.

According to SC sources, over 7,000 cases await trial at the Appellate Division, and 3,53,000 at the High Court Division.

Taking into account the pressure on the HC Division, Justice Khairul directed the SC registrar to keep the registration section open on Saturday.

Additional Attorney General MK Rahman termed CJ’s initiatives unique, and said they would be good for the judiciary.

The next chief justice should continue the reform work, he added. Justice Khairul will retire on May 18 next year.

About upgrading the SC website, he said it will help keep the court records updated and ensure people’s easy access to them.

SC and HC judges and their personal assistants have recently been equipped with over 300 computers.

BBSL to go public

http://www.thefinancialexpress-bd.com/more.php?news_id=119969&date=2010-12-13

BBSL to go public
FE Report

Bangladesh Building System Ltd will raise Tk 240 million (24 crore) from the capital market to finance its expansion, the steel maker said.

The Gazipur-based company, which began its operation in 2003, will float 2,40,00,000 ordinary shares with a face value of Tk10.00 each, it said in a statement.

BBSL has appointed Janata Capital and Investment Limited (JCIL), a subsidiary of Janata Bank Ltd, to manage its listing in the stock market under the book building method.

An agreement was signed between JCIL and BBSL in the city recently. MD Jahangir Mia, chief executive officer of JCIL and Abu Noman Hawlader, managing director of BBSL, signed the agreement on behalf of their respective organisations.

BBSL has a significant market share in pre-engineered steel building sector. It has the capacity of producing 11,800 metric tonnes of steel a year.

SMS to inform citizens of rights

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SMS to inform citizens of rights
Star Business Report

Mobile phone operators will help raise citizens’ awareness by sending free text messages that explain the Right to Information Act (RTIA), they announced in Dhaka yesterday along with government representatives.

The information minister, officials of the information commission and CEOs of Grameenphone and Robi Axiata Ltd sat together to discuss how the vast clientele of mobile phones in the country will help make implementation of the act more meaningful.

Informative text messages — and voice messages for those who cannot read — will be sent to mobile users during a three-month campaign, starting with Victory Day celebrations, said Chief Information Commissioner Muhammad Zamir.

Subsequent steps may include call centres that people can call for more information, he added.

Some TV channels will disseminate RTIA information during prime-time news through regularly updated scrolls sponsored by the mobile companies. The scrolls will be shown from 11am to midnight.

There are now about 65 million cell phone users in the country.

Grameenphone Chief Executive Officer Oddvar Hesjedal said the effort is part of the company’s commitment to corporate social responsibility.

It is difficult to get a new law work, but first people should know that they are allowed to ask questions and expect answers, he added.

Information Minister Abul Kalam Azad said government officials should improve their attitude on providing information on issues that concern people.

He said the free flow of information would help empower people, establish good governance by reducing corruption, and ensure transparency and accountability.

He noted that the AL government passed the RTIA in the first session of parliament as a priority and said that the government is keen on its implementation.

Per Erik Hylland, CEO of Telenor; Micheal Kuehner, CEO of Robi; Prof Sadeka Halim, information commissioner, and Hedayetullah Al-Mamun, information secretary, also spoke.

Bapex scopes out oil, gas in Pabna

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Bapex scopes out oil, gas in Pabna

Ahmed Humayun Kabir Topu, Pabna

Bangladesh Petroleum Exploration & Production Company (Bapex) will drill an exploration well in Mubarakpur in the district to detect oil and gas reserves there.

Experts expect 170 billion CFT gas reserve on the site. The works of the project site started this week after issuing the work order for land development for the site, Bapex officials said.

Meanwhile, an international bidding for the drilling machinery of the project is under process, they added.

The drilling of the exploration well will begin within March or April next after completing the land development works.

Earlier the government approved a fund of Tk 89.26 crore for the project — Tk 61.84 crore of which will come as foreign fund under Mubarakpur Oil/Gas Exploration Well Drilling Project, the Bapex officials said.

They said Bapex has issued the work order to the contractors for the land works at the camp and project site at a cost of Tk 2.5 crore and the site was handed to the contractors last week.

“The work order has been issued for the drilling site development, camp site development and approach road construction,” said Md Ataur Rahman, deputy general manager of Bapex and project director (PD) of the exploration well drilling project.

“We have already called an international tender for buying the laboratory equipment of the project. Also the delivery of Tk 13 crore drilling machinery is under process.” the PD said.

“We may start drilling within March or April,” Rahman said.

After drilling the well, which will be 4,500 metre-deep on the project site, it will be easier for examining the total area of natural gas and oil, the officials said.

Earlier the government acquired 8.8 acres of land at Paglachandipur and Bishnapur of Santhia in Pabna, primarily for conducting a study for drilling the exploration well. The Pabna district administration gave the charge of the lands to Bapex in July.

Bapex started to work on the Mubarakpur site in 2006. After getting a satisfactory result in a seismic survey in 2006, it made a project of Tk 56.04 crore for conducting the exploration study, but the project was reviewed again to Tk 89.26 crore.

The Executive Committee of National Economic Council (Ecnec) approved the project in March last year.

Bangladesh to make optical fibre cables

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Bangladesh to make optical fibre cables
Quazi Amanullah, Khulna

Bangladesh Cable Shilpa Ltd in Khulna will start producing optical fibre cables from January.

The factory, which went into commercial production in 1973 after its establishment in 1967, has also decided to go public from March to raise fund for its new project.

To this end, an agreement was signed on Monday with Swadesh Investment Management Ltd, which would work as issue manager.

Managing Director of Cable Shilpa Bahadur Ali and Managing Director of Swadesh Investment Mamun Ahmed inked the deal in the conference room of the plant.

Cable Shilpa, a state-owned enterprise, will offload its shares as intended by the government, said Ali.

“Swadesh has been asked to complete all the processes for offloading our shares within the stimulated time,” said Lutfor Rahman, manager (administration) of the plant.

The decision to assign Swadesh Investment for the job was taken in the 161st meeting of the board of the cable factory.

Cable Shilpa will also set up a power cable and electrical house wire plant in Khulna.

The company has a reputation for not incurring financial losses since its inception. It earned a net profit amounting to Tk 12.83 crore in the last financial year, said its managing director.

Optical fibre cables to be produced in this plant will meet the domestic demand, said Ali.

At present, Bangladesh imports such cables from different countries including India and China.

Exports to France rise 13pc

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Exports to France rise 13pc
Star Business Report

Textile and garments exports to France posted a 13 percent rise in the first 10 months of 2010, compared to the same period last year, said the head of France-Bangladesh Chamber of Commerce and Industry yesterday.

Exports amounted to nearly Tk 8,350 crore in the January-October period, according to statistics provided by SS Kamal, president of the chamber.

Bangladesh imported Tk 710 crore worth of goods in the January-October period, a 7 percent rise from a year ago.

France is the fourth-largest trade partner of Bangladesh, after the United States, Germany, and UK.

The French-Bangla chamber has been organising an annual gala from 1997 to promote the country’s prospects for investment. This year’s programme will be held at Radisson Water Garden Hotel in Dhaka on December 11.