The economic zones of Mirsharai, Feni, and Sitakunda, in Chittagong, have been consolidated under the name Bangabandhu Sheikh Mujib Shilpa Nagar.
According to a press release published by the Bangladesh Economic Zones Authority (BEZA), on Thursday, the proposal for renaming the zones was submitted to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Trust on March 28 of this year, and approved on August 10.
Combined, the three zones occupy 30,000 acres of land.
A consultation firm has been contracted to formulate the master plan to turn the economic zone into one conforming to international standards. Work on improving the zone is estimated to be completed by December 2018.
Local and international organizations have pledged to invest over $17.5 billion in the project.
