DHAKA, June 24, 2024 (BSS) - A three-member delegation from the Münzer Bioindustrie GmbH met Finance Minister Abul Hassan Mahmood Ali and State Minister for Finance Waseqa Ayesha Khan in Vienna today and discussed their ongoing investment project in Bangladesh.

Münzer, an Austria company, is one of the leading companies with cutting-edge technology and know-how processes liquid waste into clean energy sources.

The company collects 200 tons of used cooking oil from more than 1200+ restaurants in Bangladesh and exports the same as feedstock to Austria for converting the same into biodiesel for Austrian market, according to a message received here today.

The company has collection infrastructure and network in Dhaka, Chattogram, Sylhet and Cox’s Bazar to collect the used cooking oil.

Used cooking is otherwise being sold by unscrupulous traders in informal market as fresh edible oil, which is hugely injurious to health.

The Finance Minster thanked Münzer for investing in Bangladesh and requested them to expand its operation to other districts of Bangladesh.

The Minister suggested the company to coordinate with the Ministry of Environment, Forests and Climate Change as well as the Food Safety Authority of Bangladesh to push for sustainable recycling of cooking oil to reduce public health concerns.