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Local consortium gets licence to develop Mirsarai EZ

Local consortium gets licence to develop Mirsarai EZ
The consortium of POWERPAC-East West- GASMIN has been awarded the licence to develop the first phase of the Mirsarai Economic Zone in Chittagong.
The consortium is comprised of three business groups- Bashundhara Group, Sikder Group and Gasmin Ltd. The Economic Zone in Mirsharai is expected to become the country’s largest economic zone.
Bangladesh Economic Zone Authority (BEZA) awarded the licence to develop 550 acres of the economic zone on the Design-Build-Finance-Operate-Transfer (DBFOT) basis.
BEZA Executive Chairman Paban Chowdhury handed over the Licence of Award (LoA) to consortium managing director Mahboob ur Rahman during a function held at a city hotel on Tuesday.
Presided over by Bangladesh Economic Zones Authority (BEZA) Executive Chairman Paban Chowdhury, Chief Coordinator (SDG Affairs) of Prime Minister’s Office Md Abul Kalam Azad, Bangladesh Export Processing Zones Authority (BEPZA) Executive Chairman Major General Md Habibur Rahman Khan, Powerpac-East West-Gasmin Consortium Managing Director Mahboob ur Rahman, PowerPac Economic Zone Managing Director Ron Haque Sikder and Bashundhara Group Vice-Chairman Shafiat Sobhan were present at the function.
Addressing the function, the BEZA Executive Chairman said under the LoA, the consortium will develop the first block of Mirsharai EZ.
BEZA has already completed the feasibility study on 7700 acres of land in Mirsharai area and it is developing a master plan to establish a larger industrial city having 30000 acres of land in between Feni and Mirsharai, he added.
Seeking cooperation from all concerned agencies, he stressed the need for ensuring the security of the investment of the investors both from home and abroad.
He also said international development partners including the Asian Development Bank (ADB), World Bank (WB), DFID, JICA, IFC and GIZ are currently working with BEZA to provide financial and technical support for building infrastructure to woo more investment.
“I firmly believe that this consortium will bring the state of the art technologies in the EZ considering the next generation of businesses who will be coming up for making investments,” he said.
In order to provide easier and quickest service to the investors, the government has already formulated the One-Stop Service act which may be tabled in the cabinet soon for approval, Azad informed.
The SDG principal coordinator further said, “Bangladesh ranked 176 in doing business index, we want to enter in the 100 list in the next five years with the common understanding of public and private sector”.
After the LoA ceremony, BEZA signed a Memorandum of Understanding (MoU) with Bangladesh Rural Electrification Board (BREB) and Bangladesh Power Development Board to establish a 150 MW power plant on 16 acres land in the Mirsharai EZ.

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