The economic zone is expected to create more than 10,000 direct jobs and nearly 60,000 indirect jobs
The Bangladesh Economic Zones Authority (Beza) yesterday awarded the license for the East West Special Economic Zone Limited (EWSEZL) to leading business conglomerate Bashundhara Group.
Set up on 102.69 acres of land in South Keraniganj at a cost of Tk900 crore, EWSEZL is expected to create more than 10,000 direct jobs and nearly 60,000 indirect jobs.
Bashundhara Group is set to accommodate nearly 20 factories for food processing, liquid petroleum gas (LPG) cylinder manufacturing, powder coated paint manufacturing, concrete block and batching, bitumen manufacturing, edible oil refinery, and polypropylene bag manufacturing.
Beza Executive Chairman Paban Chowdhury awarded the licence to Vice Chairman of Bashundhara Group and Managing Director of EWSEZL Shafiat Sobhan at a ceremony held at its conference room, making it the tenth private economic zone in Bangladesh.
Speaking at the ceremony, Paban Chowdhury said that they feel the East West Special Economic Zone will receive huge response from local and foreign entrepreneurs since it is close to the capital.
"Constructing a planned industrial zone will help prevent terrible accidents like that in Nimtali, Chawkbazar," the Beza chief stated, adding that investors from both home and abroad are showing significant interest in developing economic zones in the country.
He also hoped that EWSEZL will become an effective economic zone in encouraging rapid economic development through diversification of industry, employment, production, and export.
Shafiat Sobhan said: "The zone will generate employment, attract local and foreign investment, and will also boost economic growth. We want quality investments in this economic zone."
Previously, in July 2016, Beza handed over the pre-qualification licence to EWSEZL.
Bashundhara Group started operating as a real estate company in 1987. Today, it is engaged in many business ventures including cement, paper and pulp, tissue paper, steel, LPG bottling and distribution, and trading.