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Private Economic Zone: Kishoreganj Economic Zone gets the nod

  • Published at 10:48 pm February 18th, 2019
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Officials of Nitol Niloy Group receives the license to Kishoreganj Economic Zone Ltd (KEZ) at a ceremony in Bangabandhu International Conference Center in Dhaka on Monday, February 18, 2019 Dhaka Tribune

'BEZA has already given licenses to eight private economic zones'

The Bangladesh Economic Zones Authority (BEZA) yesterday awarded the license to Kishoreganj Economic Zone Ltd (KEZ), a concern of Nitol Niloy Group.

KEZ received approval as the ninth private economic zone in the country. Set up on 91.63 acres of land in Pakundia upazila near the Bhairab-Kishoreganj Highway, the zone is expected to create jobs for 15,000 people within the first five years of operation.

The group will set up a heavy automobile plant at the economic zone. Besides, a steel manufacturing plant is likely to set up by an Indian firm.

The license was awarded at a ceremony at the Bangabandhu International Conference Center in Dhaka on Monday .

Md Abul Kalam Azad, chief coordinator for Sustainable Development Goals Affairs (SDGA) under the Prime Minister's Office, Md Faruq Hosen, executive chairman of National Skills Development Authority, Abdul Matlub Ahmad, chairman of Nitol Niloy Group, Paban Chowdhury, executive chairman of BEZA and Selima Ahmad MP, attended the ceremony.

Abul Kalam Azad hoped KEZ will play an extraordinary role in fostering economic development in the industrially neglected Haor areas.

He said, “BEZA will provide investors with full-fledged One Stop Service (OSS) from next month."

“The economic zones authority from now on will issue trade licenses to companies  operating within the zone," informed BEZA Executive Chairman Paban Chowdhury. He said investors from home and aboard are giving significant responses in developing economic zones in the country.

He also expressed his hope that KEZ will become an effective economic zone (EZ) to encourage rapid economic development through increase and diversification of industry, employment, production and export.

BEZA has already given licenses to eight private economic zones, he added.

Matlub Ahmad said, "We have already brought in the equipment necessary for our proposed heavy automobile plant. We may start assembling pickups by November this year. Local assembling of pickups would help to cut the present market price of each truck by Tk1 lakh."

He also said an Indian company has shown interest to establish a steel manufacturing plant inside the zone.

Managing director of Kishoreganj Economic Zone Abdul Musabbir Ahmad said the zone will also generate employment, attract local and foreign investment, as well as boost economic growth. "We are giving priority to new entrepreneurs in the new EZ."

In July last year, BEZA handed over the pre-qualification license of the Kishoreganj Economic Zone  to leading business conglomerate Nitol-Niloy Group.

Nitol Motors started assembling Tata buses and trucks in 1991 and has been a partner of Tata Motors since 1988.

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