Wilmar, Adani get PMO nod to invest $350m
The government has approved Singapore-based Wilmar and India's Adani Group's joint plan to invest $350 million in Bangladesh to establish an industrial park in the Mirsarai economic zone, said officials.
The permission from the Prime Minister's Office came months after Pua Seck Guan, chief operating officer of Wilmar International, a leading agribusiness group in Asia, sought 100 acres of land in the zone in Chattogram.
Wilmar and Adani run a joint venture, Bangladesh Edible Oil Ltd, established in 1993, producing edible oil in Bangladesh under various brands including Rupchanda, Meizan, King's, Fortune, Veola and Lucky.
Wilmar International expressed interest to make the investment during Prime Minister Sheikh Hasina's visit to Singapore in March this year. Hasina agreed and urged the officials of Wilmar to visit the economic zone.
Subsequently, Kuok Khoon Hong, chairman and CEO of Wilmar Group, visited the zone in April and placed the investment plan seeking the land in the Mirsarai zone, said Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority (Beza).
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