Chinese chemical maker rebuffs pandemic fears, wants to invest $300m

[sbmc27]

Tuesday, July 28, 2020
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12:00 AM, July 27, 2020 / LAST MODIFIED: 12:59 AM, July 27, 2020
Chinese chemical maker rebuffs pandemic fears, wants to invest $300m


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Jagaran Chakma

Yabang Investment Holdings Group Co Ltd, a concern of Yabang Group of China, has expressed its willingness to invest $300 million in textile and other chemical industries inside Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.

This the highest amount of investment proposal received by Bangladesh Economic Zones Authority (Beza) during the pandemic.

Xiaochu Xu, chairman of Yabang Group, placed his proposal and sought 100 acres of developed land under an annual lease agreement yesterday, according to Beza officials.

A master plan was submitted which includes that on bringing about infrastructure development in the project.

They have also submitted the environment management plan to address environmental issues of the project. This will be a project owned 100 per cent by foreigners.

"The ongoing global trade situation is favourable for Bangladesh. And that is why the Chinese businesses are keen to invest in the South Asian nation," said Paban Chowdhury, executive chairman of Beza.

The investment of Yabang Group will help Bangladesh diversify its export basket as well as ensure technology transfer, he said.

"Basically, Yabang Group wants to take advantage of the global trade competitiveness."

"We will sign a deal on land lease agreement with Yabang Group just after Eid-ul-Azha, as they want to complete the investment process rapidly to go into production as soon as possible," he said.

Foreign investment will come in fast to Bangladesh if responsible local organisations come forward to take advantage of the existing favourable global business climate, he said.

Earlier on June 5, Xu met with Bangladesh's Ambassador in China Mahbub Uz Zaman at his office in Beijing and discussed investment plans in Bangladesh. If things go according to plan, the initial investment may hit around $1 billion and the focus will be given on printing and dyeing, pharmaceuticals and other chemical plants.

The investment holdings group is one of three leading companies in the chemical sector and among 500 top listed companies in China. It has more than 15,000 employees.

Its business covers dye, coating, pigment, medicine, veterinary, pesticide, photovoltaic, logistics, finance and real estate industries. It has more than 60 subsidiary (branch) companies.

The group's annual sales volume exceeds $10 billion with a profit of $500 million.

 

[Black_cats]

PRC chemical maker wants to invest $300 mn in Bangladesh
28th Jul 2020

Yabang Investment Holdings Group Co, a concern of Yabang Group of China, has expressed its willingness to invest $300 million in textile and other chemical industries inside Bangabandhu Sheikh MujibShilpa Nagar in Bangladesh’s Chattogram. This the highest amount of investment proposal received by the Bangladesh Economic Zones Authority (BEZA) during the pandemic.

Yabang Group chairman Xiaochu Xu put recently forward the proposal and sought 100 acres of developed land under an annual lease agreement, according to BEZA offficials.

The company has also submitted an environment management plan to address environmental issues of the project. This will be a project owned cent per cent by foreigners.

The group wants to take advantage of the global trade competitiveness, BEZA chairman Paban Chowdhury was quoted as saying by Bangla media reports.

"We will sign a deal on land lease agreement with Yabang Group just after Eid-ul-Azha, as they want to complete the investment process rapidly to go into production as soon as possible," he said.

On June 5, Xu met with Bangladesh's ambassador in China MahbubUz Zaman in Beijing and discussed investment plans in Bangladesh. If things go according to plan, the initial investment may hit around $1 billion and the focus will be given on printing and dyeing, pharmaceuticals and other chemical plants.

The group’s business covers dye, coating, pigment, medicine, veterinary, pesticide, photovoltaic, logistics, finance and real estate industries. It has more than 60 subsidiary companies. Its annual sales volume exceeds $10 billion with a profit of $500 million.

www.fibre2fashion.com/news/textile-news/prc-chemical-maker-wants-to-invest-300-mn-in-bangladesh-268902-newsdetails.htm%3famp=true

 

[bluesky]

Chinese chemical maker rebuffs pandemic fears, wants to invest $300m

This is a celebrating news. I have this personal ambition of quite a few Chinese companies to invest in Bangladesh. China's Kunming is just a few hours journey and I have used the airport.

It is possible that the Chinese companies in the vicinity of Kunming will find BD an attractive outpost for their factories. This $300 million investment is a very good news. I expect more such investments to come.

 

[Bilal9]

PRC chemical maker wants to invest $300 mn in Bangladesh
28th Jul 2020

Yabang Investment Holdings Group Co, a concern of Yabang Group of China, has expressed its willingness to invest $300 million in textile and other chemical industries inside Bangabandhu Sheikh MujibShilpa Nagar in Bangladesh’s Chattogram. This the highest amount of investment proposal received by the Bangladesh Economic Zones Authority (BEZA) during the pandemic.

Yabang Group chairman Xiaochu Xu put recently forward the proposal and sought 100 acres of developed land under an annual lease agreement, according to BEZA offficials.

The company has also submitted an environment management plan to address environmental issues of the project. This will be a project owned cent per cent by foreigners.

The group wants to take advantage of the global trade competitiveness, BEZA chairman Paban Chowdhury was quoted as saying by Bangla media reports.

"We will sign a deal on land lease agreement with Yabang Group just after Eid-ul-Azha, as they want to complete the investment process rapidly to go into production as soon as possible," he said.

On June 5, Xu met with Bangladesh's ambassador in China MahbubUz Zaman in Beijing and discussed investment plans in Bangladesh. If things go according to plan, the initial investment may hit around $1 billion and the focus will be given on printing and dyeing, pharmaceuticals and other chemical plants.

The group’s business covers dye, coating, pigment, medicine, veterinary, pesticide, photovoltaic, logistics, finance and real estate industries. It has more than 60 subsidiary companies. Its annual sales volume exceeds $10 billion with a profit of $500 million.

www.fibre2fashion.com/news/textile-news/prc-chemical-maker-wants-to-invest-300-mn-in-bangladesh-268902-newsdetails.htm%3famp=true

This company is heavily invested in both dyestuff (textiles, printing inks) as well as pharma API and pesticide manufacturing. All of which have humongous markets in Bangladesh. If not in India itself.

They are also quite big in API's for human and Veterinary uses, and other Pharma intermediary products which will be quite helpful for our Pharma exports.

http://www.yabang-qhpharm.com/index.html

This company makes,

• Albendazole
• Albendazole Sulphoxide HCL
• Albendazole Sulphoxide
• Closantel Base
• Flubendazole
• Levamisole HCL
• Mebendazole
• 4-Amino-2-chloro-α-(4-chlorophen
• 3,5-diiodosalicylic acid
• 4-Chloro-3-nitrobenzoic acid
• 5-chloro-2-nitroaniline

Investment locally makes sense.

Dyestuff subsidiary,
-------------------------------------------------------------------------------------------
JIANGSU YABANG DYESTUFF.,LTD is a China-based company principally engaged in the research, production, operation and sales of textile dyes and dye intermediates. The Company provides over 200 types of products, including anthraquinone structure disperse dyes and vat dyes. The Company also provides specialty chemicals, such as benzoyl chloride through its subsidiaries. Its products are mainly applied in textile fabrics and specialization of textile dyeing. The Company distributes its products within domestic market and to overseas markets.

 

[bluesky]

Yabang Investment Holdings Group Co Ltd, a concern of Yabang Group of China, has expressed its willingness to invest $300 million in textile and other chemical industries inside Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.

There was another news related to investment in BD by the same Chinese company. I think it is eyeing to invest in various other fields. The link below says so.

https://www.dhakatribune.com/busine...abang-group-eyes-1bn-investment-in-bangladesh

 

[sbmc27]

Same proposal.
They’re planning to invest 300 mil initially.

There was another news related to investment in BD by the same Chinese company. I think it is eyeing to invest in various other fields. The link below says so.

https://www.dhakatribune.com/busine...abang-group-eyes-1bn-investment-in-bangladesh

 

[bluesky]

Same proposal.
They’re planning to invest 300 mil initially.

I just hope a big name Chinese company like this one invests in BD, BD govt bureaucrats all provide it the necessary cooperation, its business go well and it attracts other Chinese companies to invest in the country, as a result.

A $300 million initial investment that may reach 1 billion dollar in the near future will certainly play a role to influence other investors from China. This Yabang Investment Holdings Group Co Ltd, a concern of Yabang Group of China, is one of 500 largest companies in China.

No doubt, it has many smaller vendor companies who supply components to it. Their total presence will offset many of our shortcomings like a low investment activities by the locals in non-textile mechanical sectors.

 

[sbmc27]

Exactly.
Let's hope for the best.

I just hope a big name Chinese company like this one invests in BD, BD govt bureaucrats all provide it the necessary cooperation, its business go well and it attracts other Chinese companies to invest in the country, as a result.

A $300 million initial investment that may reach 1 billion dollar in the near future will certainly play a role to influence other investors from China. This Yabang Investment Holdings Group Co Ltd, a concern of Yabang Group of China, is one of 500 largest companies in China.

No doubt, it has many smaller vendor companies who supply components to it. Their total presence will offset many of our shortcomings like a low investment activities by the locals in non-textile mechanical sectors.