Bashundhara Group to set up bag plant at Mongla
Bashundhara Industrial Complex Ltd (BICL), a concern of the country’s leading business conglomerate Bashundhara Group, is going to set up a bag manufacturing plant at Mongla to meet its own needs.
The proposed industrial unit with monthly 1.5 million poly propylene woven bag manufacturing capacity will be set up on 16 acres of land of PowerPac Economic Zone (Pvt) Ltd of Sikder Group near Mongla port.
BICL signed a land lease agreement with PowerPac Economic Zone (Pvt) Ltd at a function at a city hotel on Sunday with regard to the setting up of the industrial unit.
Sayem Sobhan Anvir, Managing Director of Bashundhara Group, and John Haque Sikder, Director of Sikder Group, signed the land lease documents on behalf of their respective sides.
Bangladesh Economic Zones Authority Executive Chairman Paban Chowdhury was present at the signing ceremony.
“Initially 16 acres of land have been acquired at a private economic zone in Mongla. We’ll be manufacturing bags there,” Sayem Sobhan told the media at the signing ceremony.
The proposed environment-friendly multi-million dollar bag manufacturing plant will be of Korean and European origin, BICL officials said.
The poly propylene bags will be initially supplied to Bashundhara’s cement manufacturing plants. The bags will also be utilised for fertiliser, sugar and some other similar products.
BICL officials said they will consider exporting bags after meeting the domestic demands.
Besides setting up the unit, Bashundhara Group has a plan to set up an oil depot, Sayem Sobhan also said while speaking about their future business expansion plan.
“We already have two economic zones as well — one in Keraniganj and another in Mirsharai of Chattogram. And we’re also trying to set up some more economic zones,” Sayem Sobhan noted.
“Actually, we want to expand our businesses in all regions of the country,” he also remarked.
“The land lease deal signing is very significant as it is held at a time when the country is passing through a very tough moment due to Covid-19,” Paban Chowdhury said.
Even though BEZA activities have been hampered during the crisis, development of Bangabandhu Economic Zone in Chattogram and another zone in Jamalpur is going on.
“Despite a conflict between lives and livelihood, the government is trying to keep the economic momentum running,” he noted.
BEZA Member Md Harunur Rashid said the BEZA will extend whole hearted support to such initiatives so that the country improves on ease of doing business indicator.
Sikder Group has developed the economic zone on 205 acres of land, adjacent to the country’s second largest Mongla port, jointly with BEZA under public-private partnership (PPP) initiative with a 50-year licence.
PowerPac Economic Zone officials said it is the most lucrative economic zone in the country for its strategic location.
After completion of the under-construction Padma bridge, the economic zone as well as the port’s importance will increase supported by an improved communications system between the capital and south and south-western part.
Mongla economic zone is now fully developed for setting up factories, Sikder Group officials said, adding that a good number of local investors like Bashundhara and some foreign investors, including Unilever, have shown interest in setting up industries there.