Dhaka, Sep 03 (V7N)- The government has signed a $1 billion agreement with the Islamic Development Bank (IsDB) to establish the second unit of the Eastern Refinery.
The agreement was signed in the presence of Prime Minister Tarique Rahman on Thursday (September 3) afternoon.
Earlier, State Minister for Power and Energy Anindya Islam Amit said at the Secretariat that the new unit would triple the country’s crude oil refining capacity.
He said the facility would be capable of refining 4.5 million metric tons of crude oil annually. As a result, more than 50 percent of the country’s primary energy demand could be met from the refinery, he said.
The State Minister also expressed concern over the ongoing energy and power crisis, saying significant progress would be made in addressing the situation within two weeks.
Amit said LNG supplies from Qatar would become available if shipping traffic through the Strait of Hormuz returns to normal.
He added that the government is maintaining communication with several countries, including Saudi Arabia, Qatar and Iran, while also exploring alternative sources of energy to address the crisis.
END/SMA/AJ
