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Awaiting final closure

SHAHIDUL ISLAM
Production at the Chittagong Chemical Complex (CCC) at Barabkunda in Sitakunda Upazila has been suspended since December 15 last year following the government decision on its privatisation.
The complex will be closed down formally after clearing all dues and other benefits of its staffs, workers and officials soon, sources said.
"About 80 to 90 per cent of the dues has been paid off since December 15, 2002," an official said.
Over rising interests, continued loss, depreciation and lack of competitive edge are learnt to be the reasons that compelled the government to close the unit, sources said.
Following the government decision, production at the CCC came to a halt
on December 15 and payment to its officials, staffs and workers started accordingly.
"The pay-off can be deemed as a step before its ultimate closure," said an official on condition of anonymity.
The unit had 429 permanent and 200 casual workforce. Among the permanent employees, 258 were workers, 95 staffs and 76 officials, sources said.
At present, only 31 employees, including three key officials, are still working on 'emergency basis'. The three key men -- the managing director, general manager (administration) and general manager (accounts) -are likely to be transferred to any other BCIC unit after the closure of the complex, sources said. The rest would be retrenched, they said.
The unit had produced caustic
soda, liquid chlorine, hydraulic acid, bleaching powder, calcium hydrochloride and sodium hydrochloride.
Sources said the annual production of the complex was 7,000-ton caustic soda, 4,600-ton liquid chlorine, 7,000-ton hydraulic acid, 600-ton bleaching powder and 2,400-ton calcium hydrochloride.
The products were being used in the different industrial units of Bangladesh Chemical Industries Corporation (BCIC). Some units in power sector, steel mills and paper mills were the major consumers of these products.
The complex went on production back in 1966. It was then called 'Chemical Private Industries Limited of Pakistan'. And it was renamed 'Chittagong Chemical Complex' in 1981.
The unit was turned into a modern and state-of-the-art factory on March 1, 1997 following its Balancing,
Modernisation, Rehabilitation and Expansion (BMRE) at a cost of a Tk111.14 crore.
The Japan Bank for International Cooperation (JBIC) provided Tk 81.90 crore for the BMRE, sources said.
Despite these initiatives, the complex had been reeling under financial loss, sources said. "Besides, the interest to the Japanese loan was also soaring everyday."
"We were not able to withstand our competitors in the market in terms of price and demand, in spite of the fact that our products were no less than international standard and quality," said a chemist of the complex.