Bashundhara gets licences for 2 special economic zones
Country’s leading business conglomerate Bashundhara Group has received pre-qualification licences for establishing two economic zones in Keraniganj.
Bangladesh Economic Zone Authority (BEZA) awarded the licences for setting up the ‘Bashundhara Special Economic Zone Ltd’ and ‘East West Special Economic Zone Ltd’.
BEZA Executive Chairman Paban Chowdhury handed over the licences to Bashundhara Group Chairman’s Adviser Major General (retd) Mahbub Haider Khan during a license awarding ceremony at BEZA office in the city on Thursday.
Md Fakhruddin, chief operating officer (COO) and Lt Col (retd) Khandaker Abdul Wahed, adviser (PR) of Bashundhara Group, were also present on the occasion.
Bashundhara Group will establish the economic zones at Pangaon and Hazaribagh in South Keraniganj, on the outskirts of the capital.
While addressing the license awarding ceremony, Bashundhara Group Chairman’s Adviser Mahbub Haider Khan said the economic zones will house industries from sectors like petroleum oil refinery, steel and engineering, shipbuilding, cylinder manufacturing, LPG bottling, food and beverage, multi food and so on.
Mentioning that the two economic zones will create 40,000 jobs, Mahbub Haider said Bashundhara Group will welcome foreign investors to its economic zones.
Bashundhara Group COO Fakhruddin said development of the ‘East West Special Economic Zone’ has already started and industrial units are being set up at the new facility.
Citing huge business opportunity in the oil refinery sector, he said the Bashundhara Special Economic Zone will invest in petroleum refinery sector as capacity of the country’s lone ‘Eastern Refinery Limited’ has not keep keeping up with the growing demand.
Bashundhara Group also welcomes foreign investment in oil refinery sector, he added.
Paban Chowdhury said BEZA has been facilitating the process for making investments in Bangladesh without any hassle.
Mentioning that Bashundhara Group has vast experience and capacity in real estate, service and industries sectors, Paban Chowdhury said Bashundhara Group and BEZA will collaborate to make the country’s economy stronger through the establishment of the economic zones.
Sources in BEZA said ‘Bashundhara Special Economic Zone Ltd’ will be built on over 223.39 acres of land. Some 138 acres of land has already been acquired for the project while purchase of the rest 84 acres is under process. The ‘East West Special Economic Zone Ltd’ will be established on 218.68 acres of land.
As part of the government’s plan to establish 100 economic zones across the country, BEZA earlier awarded pre-qualification licenses to seven private sector companies to set up eight economic zones.