Bangladesh Economic Zones Authority awarded a prequalification licence to Maisha Group, a property developer, to build an economic zone in Keraniganj near the capital Dhaka.
BEZA Executive Chairman Paban Chowdhury yesterday handed over the licence to Arisha Private Economic Zone (APEZ) Managing Director Aslamul Haque.
This will be the seventh private sector economic zone in the country.
Although the APEZ will primarily be developed in 50.81 acres of land in Washpur mouza of Keraniganj and Shyamlapur mouza of Savar, the developers have a plan to extend the land of economic zone to 200 acres gradually, said Aslamul Haque, also a Member in the Parliament.
The economic zone will have industrial plots of around 200 industries and is expected to employ at least 40,000 people in next eight years.
The zone will consist of a container terminal with jetty, a well-equipped fire station and security arrangements, a 5-star hotel with helipad and a modern effluent treatment plant.
A power plant of 324MW has also been constructed for the project.
“The economic zone will be a green private economic zone and will not pollute environment,” said APEZ managing director. “While the APEZ has a target to bring 100% foreign investment, there will be ready-made garment and medical equipment manufacturing plants,” APEZ managing director said.
The APEZ is expecting to sign a $90m investment deal with a UK-based company this month. When the zone will be ready for use, it expects to see a $7-8bn investment.
Officials said investors from Russia, India, Japan, Malaysia, Singapore and European Union countries have already showed their interest to invest in the zone.
BEZA Executive Chairman Paban Chowdhury said the Authority finalised locations for 59 economic zones in last 16 months.
“Prime minister has already inaugurated development activities of 10 economic zones while 10 more are expected to be inaugurated by the end of this year,” he said.
The construction of 10 economic zones is in progress now and studies on 22 proposed locations are being carried out, Paban Chowdhury said.