In November 2018, OeEB signed a long-term credit line of EUR 15.11 million for Meghna Sugar Refinery Ltd. ("MSRL"), Bangladesh. The funds will be used to build a new sugar refinery in Bangladesh according to the latest energy and resource efficiency standards. In addition to classic granulated sugar, liquid sugar and invert sugar - for example for the beverage and food industry - are to be produced for the first time. In addition to OeEB, Dutch FMO and the Islamic Development Bank are also involved in the financing arranged by German DEG.
Meghna Sugar Refinery Limited (“MSRL”)
|Region||Southern and Eastern Asia|
|OeEB project volume||EUR 15.11 million|
DEG, FMO, Islamic Development Bank
Meghna Sugar Refinery Ltd is part of the Meghna Group of Industries ("MGI"), one of the largest conglomerates in Bangladesh, which, in addition to sugar, also processes other foods such as soy, flour, salt or edible oils.
The planned refinery will set new standards concerning efficiency and productivity across the whole sector. For example, by using the latest technologies, greenhouse gas emissions, waste and water consumption can be substantially reduced. In addition, it is planned to build a new combined heat and power plant as part of the construction of the refinery, which will allow surplus energy to be used in other group companies or to be fed into the energy grid.
The new refinery with a capacity of 4,000 tonnes per day will create 770 new jobs and up to 1,000 indirect jobs in the distribution channel.