Staff Reporter

The Ministry of Energy and Mineral Resources has approved a $3 billion investment plan, signed between the Hi-Tech International Group of Saudi Arabia and Cosmopolitan Oil Refinery Management Limited of Bangladesh to set up an oil refinery with a capacity to produce 300,000 barrels of oil products per day.
The two companies signed an agreement in February to implement the project within the next 40 months. Later, the deal was submitted to the Energy Division of the Ministry for approval, according to sources in the Energy Division. [Read more]