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Is Bashundhara constructing a mega oil refinery in Chattogram?
The mega plant is expected to meet about 80% of the national demand for refined oil Bashundhara Oil and Gas Company Limited, a subsidiary of one of the biggest conglomerates of the country announced that they are constructing a mega oil refinery in Sitakunda upazila in Chattogram back in mid-2018.
Why does Bangladesh import a lot of bitumen?
Currently, Bangladesh consumes around half a million tons per year, forcing the country to import heavily when it comes to bitumen as petroleum oil refineries have low production capacities. The bitumen plant is situated over 63 acres of land and has a total production capacity of nine lakh tons, which is enough capacity to meet the local demand.
How much does Bashundhara oil project cost?
The mega plant is expected to meet about 80% of the national demand for refined oil and that isn’t cheap for Bashundhara Group. The project is going to cost Tk10,000 crore and a total of 15 public and private banks are putting their efforts to arrange the funds through the syndicated loan with the Agrani Bank Limited acting as the lead arranger.