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TK, SK groups to set up petrochemical refinery, LPG terminal in Maheshkhali EZ

DHAKA, Sept 10, 2017 (BSS)-South Korea's leading conglomerate SK Group has planned to go for a joint venture with Bangladesh's TK Group for setting up a petrochemical refinery, Liquefied Petroleum Gas (LPG) terminal and a power plant in Maheshkhali Economic Zone-3 in Cox's Bazar.

Super Petrochemical Private Limited (SPPL) of TK Group leased a total of 300 acres of land under Dhalgjhata and Dakhin Dhalghata of Maheshkhali Economic Zone-3 for the projects.

Executive member of Bangladesh Economic Zones Authority (BEZA) Md Harunur Rashid and SPPL managing director Mohammad Mostafa Haider signed a land lease agreement on behalf of their respective sides here today.

Abul Kalam Azad, chief coordinator, SDG affairs, Prime Minister's Office, BEZA executive chairman Paban Chowdhury, executive chairman of Bangladesh Investment Development Authority (BIDA) Kazi M Aminul Islam, Petrobangla chairman Abul Mansur Md Faijullah, director general of the trade wing of Korean Embassy in Dhaka Z W Kim and Roe Kango of SK Gas were present at the agreement signing ceremony.

Abul Kalam Azad said the government has attached importance to LPG for solving natural gas crisis in the country and implementation of the plan of the SK Group of Korea would change the scenario of the Bangladesh's energy sector.

BEZA executive chairman Paban Chowdhury said the government has planned to build an energy hub in Cox's Bazar's Maheshkhali and steps have already been taken to preparer 10,000 to 12,000 acres of land in this regard.

SPPL managing director Mostafa Haider said construction of LPG terminal needs an investment of US$20 crore while US$150 crore will have to be investment for setting up the petrochemical factory.