The Bangladesh government is trying to revive its closed six sugar mills with the help of foreign assistance to increase domestic sugar output.
Three foreign companies namely Sutech Engineering Company of Thailand, Sharkara International of UAE and Sojitz Machinery Corporation of Japan have expressed interest to invest $1million (Around TK 8000 crore) to revive these closed sugar mills.
Since December last year, the government has halted the sugarcane crushing operations at Setabganj sugar mills, Kushtia sugar mills, Rangpur sugar mills, pabna sugar mills, shyampur sugar mills and Panchagarh sugar mills due to heavy losses.
According to the local media report, the Mills had incurred losses of TK 380 crore in the fiscal year 2019-20, according to Bangladesh Sugar and Food Industries Corporation (BSFIC).
Md Hussain, local representative of the investors said that the mills will become operational in 30 months after signing the agreement.
The Consortium of investors will provide high yielding varieties of sugarcane to the local farmers so that there will not be any lack of raw material for crushing.