Bangladesh may purchase fertilizer factories in Uzbekistan

Uzbekistan has offered Bangladesh to invest in the local fertilizer industry, Spot reports citing the local edition The Daily Star.

Ambassador of the South Asian Republic in Tashkent Jahangir Alam spoke about the proposal to purchase two factories for the production of fertilizers - in the Fergana region and Kashkadarya. They will be able to supply products for export under certain conditions.

According to him, the Uzbek side does not object to the construction of new facilities for the production of fertilizers by investors from Bangladesh. There is also ample supply of natural gas, a key ingredient for production.

“Since Uzbekistan has vast gas reserves and the government is generally in agreement, we hope for a positive outcome,” Alam added.

The economy of Bangladesh needs 5.5 million tons of fertilizer annually, of which local producers cover only a fifth - 1.1 million tons. In addition, the shortage of gas forced the plants to operate at less than full capacity.

Bangladeshi PM Sheikh Hasina Wazed discussed the possibility of supplying Uzbek fertilizers with MIFT head Jamshid Khodjayev in July. Now the country imports them mainly from the Middle East, but because of the high prices, the government is looking for alternatives.

In addition, the two countries have recently agreed to launch a codeshare. In the near future, work will begin on launching direct flights between Tashkent and Dhaka, Alam said.