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Foreign firms team up to upgrade closed sugar mills
Submit final proposal on Tk 5,000cr modernisation plan
Brown sugar being sold for Tk 65 per kilogramme in front of the Bangladesh Sugar & Food Industries Corporation in the capital’s Motijheel. Photo: Amran Hossain
Companies from Japan, Thailand and the United Arab Emirates have teamed up to upgrade the recently shuttered six sugar mills of the Bangladesh Sugar & Food Industries Corporation (BSFIC), ensure profitability and export by-products.
Sutech Engineering Co of Thailand, Sharkara International of the UAE and Sojitz Machinery Corporation of Japan will invest Tk 5,000 crore under a joint venture within the next two years.