The Asian Development Bank (ADB) has partnered with Tanveer Dal Mill and Flour Mills Limited, a subsidiary of the Meghna Group of Industries (MGI), to finance the construction of a flour milling plant in Bangladesh. The $20 million loan will boost wheat flour production in Bangladesh, implementing energy-efficient technologies to reduce environmental impact.
Energy-Efficient Facility to Double Wheat Flour Output
The new milling plant will increase MGI’s wheat flour production capacity to 660,000 metric tons per year, doubling current output. It will operate with 37% less energy compared to existing plants, leading to significant cost savings. Additionally, the plant’s enhanced energy efficiency will reduce carbon dioxide emissions by approximately 8,200 tons annually, contributing to Bangladesh’s environmental sustainability objectives.
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Supporting Bangladesh’s Food Security and Economic Growth
ADB supports the project, aligning with Bangladesh’s goals to enhance food security, boost agro-processing, and reduce energy use.
Suzanne Gaboury, ADB’s Director General for Private Sector Operations, said, “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.”
She added, “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.”
In 2022, Bangladesh consumed 8.8 million tons of wheat, but local production was just over one million tons. This growing gap between consumption and local supply has increased the country’s dependence on wheat imports. The new milling plant aims to address this demand, contributing to Bangladesh’s more sustainable and self-sufficient food production system.
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The flour mill project will generate 160 jobs and strengthen ties with approximately 150,000 small and medium-sized enterprises in Bangladesh. Furthermore, MGI’s Chairman, Mostafa Kamal, emphasized that the project will enhance food security and drive sustainable economic growth in Bangladesh.
