A joint venture, Adani Wilmar Limited (AWL), consisting of India-based Adani Group and Singapore-based Wilmar International Ltd, will invest Tk3,350 crore in Chittagong’s Bangabandhu Sheikh Mujib Industrial City (Mirsarai Economic Zone) under a joint venture that will produce agro-based foods and allied products.
They are already operating in Bangladesh under the name of Bangladesh Edible Oil Ltd, an agro-based manufacturing industry.
A land handover agreement was signed between Inam Ahmed, chief financial officer of Adani-Wilmar Ltd, and Mohammed Ayub, executive member (admin and finance) of Bangladesh Economic Zones Authority (Beza) yesterday at their office in Dhaka.
A total of 3,500 employees will be primarily recruited in the 11 industrial units on 100 acres of land. The joint venture project will export its products after meeting the local demand.
Beza Executive Chairman Paban Chowdhury said at the event: “Foreign investment by global conglomerates like Adani and Wilmar is a testimony of favourable business climate in Bangladesh. This is a quality foreign investment.”
He said Wilmar International Ltd officials had shown interest to invest in Bangladesh during Prime Minister Sheikh Hasina's visit to Singapore in March 2018.
After visiting the Mirsarai Economic Zone, they expressed their satisfaction with the geographical location of the economic zone and other facilities being provided by Beza.
Paban also said, “They are now investing for 100 acres of land, though they only wanted 50 acres initially.”
“It is a big challenge to provide services for investment. We are working hard simply to provide those services. Foreign investment support will be ensured in all economic zones,” he added.
Adani-Wilmar will start developing infrastructures within six months of the land handover from Beza, and will commence production within three years.
Adani-Wilmar Ltd will develop the land itself at the Mirsarai Economic Zone, which is a part of Bangabandhu Sheikh Mujib Industrial City spreading in Chittagong's Mirsarai, Sitakunda and Feni's Sonagazi upazilas on 30,000 acres of land.
