S Alam Group will invest $400 million to set up two more sugar refineries in the country, reports Dhaka Tribune.
The top industrial group in the country will be setting up one refinery in Chittagong and another in Dhaka, as per the press release.
The company has signed an agreement with a renowned engineering consultant and EPC organization to meet the increasing demand for sugar in the country.
In Chittagong, the proposed sugar refinery will be set up at Ichanagar in Azimpara union of Karnaphuli Upazila, and in Dhaka, the refinery will be set up at Ganga Nagar of Rupganj Upazila in Narayanganj. Both refineries will be ready to operate by 2025.
The refineries will be set up using technology from the USA, Germany, France, the UK, Sweden, Malaysia, Singapore, Japan, and Thailand.
