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http://www.thebangladeshpost.com/national/29992
BEZA nods to $12bn investment in Mirsarai
Saleh Noman
The Bangladesh Economic Zones Authority (BEZA) has approved $12 billion in investment proposals for the Mirsarai Economic Zone.
There has already been an investment proposal of $17 billion in this zone; the authorities have said that the proposal of another $5 billion is considered subject to the land being ready for factories, sources said.
BEZA authority is hopeful the investors will start physical construction work of their industries within this year, and handover process of around 5,000 acres of land will be completed within 2021.
The government is working to establish the largest economic zone of the country at Mirsarai, 65 kilometres away from Chattogram Port, the country’s prime export and import gateway.
This economic zone on 30,000 acres of land will be developed step-by-step, of which around 5000 acres is now being developed in the first phase.
Paban Chowdhury, Executive Chairman, Bangladesh Economic Zones Authority, told Bangladesh Post, “We have approved $12 billion in investment proposals for Mirsarai Economic Zone, which needs around 5,000 to 6,000 acres of land.
Approximately 2000 acres will be handed over to the investors after development, and the other land will be developed by investors according to their needs.”
“Now no investment proposal will be approved, we are also not accepting any investment proposal for Mirsarai. In the next step, when new land development begins, the investment will be approved again to set up the industries,” he added.
A BEZA source said, a number of international companies originating in India, China, South Korea and Qatar have got approval for the investment in the first phase. Investors will set up power, textile, steel, automobile and pharmaceutical industries.
Md. Harunur Rashid Project Director, BEZA told Bangladesh Post, 65 proposals were found for investment, 45 of which have been approved, involving a total investment of $12 billion. If the land development work is done quickly, the investment will start sooner.”
“Bashundhara Group has been handed over hundreds of acres of land according to their demand, now they are working on development there. At developed plot of 20 acres will be hand over soon to the investor Asian Paints, so that they can start physical work within this year, in perhaps the first industrial estate of the Mirerswari Economic Zone,” he added.
A BEZA source informed, Mirerswari Economic Zone requires 30,000 acres of land, of which acquisition of 16,000 acres has been completed. Now BEZA authorities are constructing basic infrastructures like road, electric, gas, water supply line and embankment.
B-R Powergen Ltd, a joint venture of the two state-owned entities-PDB and RPCL-signed a contract with Chinese firm Sinohydro Corporation Ltd to set up a 163 MW dedicated power plant for the Mirsarai Economic Zone.
The Sinohydro is installing the power plant as contractor at contract value of $105 million.
The country’s reputed PowerPac-East West-GasMin Consortium, was appointed for development and operation of Mirsarai Economic Zone last March.
Md. Harun ur Rashid said that development of the area is very challenging as the land is newly accredited, and to fill this land; sand is being brought from the sea through pipeline.
“Now this is the most attractive economic zone in the country. Due to the location, investment opportunities and government policies, foreign and local investors are highly interested in investing here. So much interest is not generated for any other industrial area of the country, he also added.
Most of the big investors have got land allotment on the condition of land development as per their requirement.
These investors want that the basic infrastructure of the Mirsarai Economic Zone be completed quickly.
Monir Hossain, head of project of BSRM, a local steel giant told Bangladesh Post, “We will build steel plants at a cost of $ 300 million on 156 acres of land, but now we have to wait for basic infrastructure, especially for the main roads and tidal control embankment within the zone.”
“If the authorities complete the construction of basic infrastructure in such a way, we will start the construction of the factory soon, he added.
BEZA nods to $12bn investment in Mirsarai
Saleh Noman
The Bangladesh Economic Zones Authority (BEZA) has approved $12 billion in investment proposals for the Mirsarai Economic Zone.
There has already been an investment proposal of $17 billion in this zone; the authorities have said that the proposal of another $5 billion is considered subject to the land being ready for factories, sources said.
BEZA authority is hopeful the investors will start physical construction work of their industries within this year, and handover process of around 5,000 acres of land will be completed within 2021.
The government is working to establish the largest economic zone of the country at Mirsarai, 65 kilometres away from Chattogram Port, the country’s prime export and import gateway.
This economic zone on 30,000 acres of land will be developed step-by-step, of which around 5000 acres is now being developed in the first phase.
Paban Chowdhury, Executive Chairman, Bangladesh Economic Zones Authority, told Bangladesh Post, “We have approved $12 billion in investment proposals for Mirsarai Economic Zone, which needs around 5,000 to 6,000 acres of land.
Approximately 2000 acres will be handed over to the investors after development, and the other land will be developed by investors according to their needs.”
“Now no investment proposal will be approved, we are also not accepting any investment proposal for Mirsarai. In the next step, when new land development begins, the investment will be approved again to set up the industries,” he added.
A BEZA source said, a number of international companies originating in India, China, South Korea and Qatar have got approval for the investment in the first phase. Investors will set up power, textile, steel, automobile and pharmaceutical industries.
Md. Harunur Rashid Project Director, BEZA told Bangladesh Post, 65 proposals were found for investment, 45 of which have been approved, involving a total investment of $12 billion. If the land development work is done quickly, the investment will start sooner.”
“Bashundhara Group has been handed over hundreds of acres of land according to their demand, now they are working on development there. At developed plot of 20 acres will be hand over soon to the investor Asian Paints, so that they can start physical work within this year, in perhaps the first industrial estate of the Mirerswari Economic Zone,” he added.
A BEZA source informed, Mirerswari Economic Zone requires 30,000 acres of land, of which acquisition of 16,000 acres has been completed. Now BEZA authorities are constructing basic infrastructures like road, electric, gas, water supply line and embankment.
B-R Powergen Ltd, a joint venture of the two state-owned entities-PDB and RPCL-signed a contract with Chinese firm Sinohydro Corporation Ltd to set up a 163 MW dedicated power plant for the Mirsarai Economic Zone.
The Sinohydro is installing the power plant as contractor at contract value of $105 million.
The country’s reputed PowerPac-East West-GasMin Consortium, was appointed for development and operation of Mirsarai Economic Zone last March.
Md. Harun ur Rashid said that development of the area is very challenging as the land is newly accredited, and to fill this land; sand is being brought from the sea through pipeline.
“Now this is the most attractive economic zone in the country. Due to the location, investment opportunities and government policies, foreign and local investors are highly interested in investing here. So much interest is not generated for any other industrial area of the country, he also added.
Most of the big investors have got land allotment on the condition of land development as per their requirement.
These investors want that the basic infrastructure of the Mirsarai Economic Zone be completed quickly.
Monir Hossain, head of project of BSRM, a local steel giant told Bangladesh Post, “We will build steel plants at a cost of $ 300 million on 156 acres of land, but now we have to wait for basic infrastructure, especially for the main roads and tidal control embankment within the zone.”
“If the authorities complete the construction of basic infrastructure in such a way, we will start the construction of the factory soon, he added.
