New Delhi: The Asian Development Bank (ADB) and Tanveer Dal Mill and Flour Mills Limited, a member of the Meghna Group of Industries (MGI), have signed a $20 million loan agreement to help build a new, energy-efficient flour milling plant in Bangladesh. The new facility will double the MGI’s wheat flour production, improve the quality of their wheat products, and use 37% less electricity than current plants, an ADB release stated.
The new plant is expected to lower operating costs and cut carbon dioxide emissions by about 8,200 tons each year. It will produce 660,000 metric tons of wheat, which will help boost domestic agricultural production and improve food security in Bangladesh. The new plant is a greenfield, state-of-the-art facility, signifying a commitment to sustainable industrial development in Bangladesh, the release added.Suzanne Gaboury, ADB Director General for Private Sector Operations, stated that the project is a significant step toward sustainable industrial development in Bangladesh. She added that the project will help the country achieve its goal of strengthening domestic agro-processing and reducing the energy intensity of key industries.”This project marks a significant step toward the advancement of sustainable industrial development in Bangladesh. By promoting energy-efficient technologies and improving product quality, ADB and MGI are directly contributing to the country’s food security, food safety, economic resilience, and environmental sustainability,” Gaboury said. “Furthermore, the project is aligned with the Government of Bangladesh’s goals of strengthening domestic agro-processing and reducing the energy intensity of key industries.”
Bangladesh’s demand for wheat has been increasing, but domestic production hasn’t kept up. In 2022, Bangladesh consumed 8.8 million tons of wheat while producing just over one million tons. Reliance on imported wheat underscores the urgency of expanding domestic milling capacity. The anticipated increase in demand for flour milling means investing in energy-efficient technologies will help create sustainable growth in this sector.