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Marubeni keen to set up LNG terminal in Bangladesh

A Japanese company-- Marubeni Asean Private Limited-- is keen to invest for setting up a Liquefied Natural Gas (LNG) terminal in port city of Chittagong in Bangladesh.

A delegation led by Marubeni`s ASEAN and South-west Asian Affair executive official Shoji Kuwayama expressed its interest at a meeting when they called on Industries Minister Amir Hossain Amu at the Industries Ministry in Dhaka, said a press release on Wednesday.

The terminal would jointly be constructed by Bangladesh Chemical Industries Corporation (BCIC) and Marubeni at the port city and the terminal would be run by importing natural gas from Malaysia.

During an hour-long meeting, the Marubeni delegation also expressed interest to invest in fertilizer, paper board, power and LNG sectors in Bangladesh.

The industries minister lauded Marubeni`s effort to investment in industry sector, terming Bangladesh as the best place for investment in South Asia.

Amu said the Bangladesh government is providing different incentives, including cash incentives and tax-exemption to foreign investors.

He also asked the Marubeni delegation members to provide a coordinated plan for investing paper board, power and fertilizer sectors side by side with setting up LNG terminal.

He assured them that the government would consider it after getting a specific investment proposal in this respect.

Describing Karnaphuly Fertilizer Factory (KAFCO) as one of the successful ventures of Japanese investment in Bangladesh, the industries minister urged the Marubeni officials to come forward with such joint investment in industries.

Industries Ministry additional secretary Begum Parag, Marubeni`s regional general manger Toru Kabeya, deputy general manager Kunio Negishi and its Dhaka office general manger Hidehiro Kunu and BCIC senior officers were present at the meeting.

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