Construction of blocks 2 and 5 in Kaliakoir Hi-Tech Park has begun with the laying of a foundation stone on Sunday.
State Minister for ICT Zunaid Ahmed Palak laid the stone of the project under Public Private Partnership (PPP) with Summit Technopolis.
The minister was flocked by Muhammed Aziz Khan, chairman of Summit group, Ravindra Chamaria, chairman of Infinity Infotech Parks limited, Shyam Sunder Sikder, secretary of ICT division, Hosne Ara Begum, managing director of Bangladeshi Hi-Tech park Authority, Abu Reza Khan, managing director of Summit Technopolis limited among others.
Block 2 will be used as signature building while block 5 is entitled as high-tech manufacturing unit. Both blocks cover 94 of the 232-acre park.
Managing Director of Kaliakoir Hi-Tech Park Authority Hosne Ara Begum said the park's investors will enjoy a ten-year tax holiday, exemption of income tax for expatriate professionals, 10-year accelerated depreciation, no import duties, zero export tax and 100% equity for FDI companies.
On June 28 last year, Bangladesh Hi-Tech Park Authority and Summit Technopolis signed an agreement to construct the park.
According to the agreement, Summit will invest US$207.59 million to construct multi-tenant building, convention centre, hotels, customs infrastructure, warehouse and industry area in Block 2.
On August 11, 2015, the state authorities signed another agreement with Bangladesh TechnoSity Limited to develop the Block 3 of the Hi-Tech Park. The company began its construction in October as well.
TechnoSity will invest US$25m initially and the amount, if necessary, will see an increase of 10 times.
About 70,000 people is expected to be employed in the Park and above 1 lakh will be benefited indirectly. It will be equipped with uninterrupted gas, power and high-speed internet connection.
