Industries minister promises all support

Industries Minister Dilip Barua yesterday said the ministry is working to provide all logistic supports to private sector investors in the country.
He was speaking as the chief guest at an inauguration event organised on installation of a condensate fractionation plant at Petrochemical Refinery Ltd in Chittagong.
Production of fuels and chemicals in the CVO Petrochemical Refinery would help to reduce the demand of fuel import of the country, he said.
Moinuddin Khan Badal MP, chief advisor of the company, presided over the function, while former Chittagong city mayor ABM Mohiuddin Chowdhury was present as special guest.
Speaking on the occasion, Mohiuddin Chowdhury said, "The Chittagong city is located in a geographically convenient place. Proper coordination among all stakeholders is must to make the city a commercially developed."
Nizamuddin Mahmood Hossain, deputy managing director of the company, said the CVO Petrochemical Refinery is a public limited company. It was involved in edible oil business since 1985.
Share holders at its annual general meeting decided to convert the company into a condensate fractionation factory following consecutive losses in 2010, he said.
With a target of producing 50 thousand tons of fuel annually, the company would go for production by December this year, according to authorities of the company.