Bangladesh sugar Industry tries to boost production in the near future

As part of its attempt to make the struggling Bangladesh Sugar and Food Industries Corporation (BSFIC) sustainable, the Bangladesh government is close to agreeing with international investors to reopen the six closed sugar mills.

Sutech Engineering Co. of Thailand, Sharkara International of the United Arab Emirates, and Sojitz Machinery Corporation of Japan have expressed interest in investing USD 1 billion to repair the old infrastructure at the six mills. Because of the rising losses, production at Pabna Sugar Mills, Shyampur Sugar Mills, Setabganj Sugar Mills, Kushtia Sugar Mills, Panchagarh Sugar Mills, and Rangpur Sugar Mills has been halted since December 2020. According to the BSFIC, the six mills lost almost USD 44,336,614 in fiscal year of 2019-2020, with Setabganj Sugar Mills suffering the greatest losses of
USD 9,800,725. According to Md Emdad Hossain, a local representative of the investors, commercial production at the six mills will commence within 30 months after signing the final deal with the consortium.