PM to inaugurate 50 industrial units in EZs Sunday, On Sunday, to commemorate 50 years of independence, Prime Minister Sheikh Hasina will open 50 industrial units, initiatives, and facilities in Economic-Zones (EZs). The Prime Minister will essentially inaugurate 50 industrial units, projects, and facilities in the EZs around the nation, according to Shaikh Yusuf Harun, Executive Chairman of the Bangladesh Economic Zones Authority (BEZA). BEZA will host the event at eight locations.
PM to inaugurate 50 industrial units in EZs Sunday
“These include commercial operations of four factories at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram and eight factories in different privately-run EZs,” he added.
According to him, these industrial entities have already invested more than US$967.73 million and plan to invest an additional over $331.27 million. The PM will also lay the cornerstone for 29 industrial units in various EZs, which have already invested $610 million and are planning to invest an additional $1,922.39 million, he said. He added that the administration buildings for the BSMSN, Jamalpur Economic Zone, Srihatta Economic Zone, and Sabrang Tourism Park are among the EZ facilities that will be officially opened.
The 230-KVA Sheikh Hasina Sarani gridline and substation at the BSMSN, which spans 20 kilometers, will also be formally opened by the PM, according to the BEZA chairman. She will also lay the cornerstone for a water treatment facility with a 50 MLD capacity, he continued. Four of the industrial facilities that will be officially opened are located in Bangabandhu Shilpa Nagar.
One of them, McDonald Steel Industries Ltd, creates prefabricated structural steel for use in industries, power plants, high-rise steel structures, and bridges. MS Plate manufacture is produced by Nippon & McDonald Steel Industries Limited using imported steel, purlin, slitting sheets, and coil. The producer of paints, emulsions, and related products, Asian Paints Bangladesh Limited, has made a $34 million investment in the economic zone.
The manufacturer of phc piles, Samuda Construction Limited, is spending $8.2 million to build their facility on a 4-acre plot of land. In order to promote rapid economic growth through the expansion and diversification of industry, employment, production, and export, BEZA seeks to build economic-zones in all potentially productive areas of Bangladesh, including underdeveloped and underdeveloped regions.
The government has approved 97 of the proposed 100 economic-zones, 28 of which are now being built. Twelve privately held economic-zones currently have operating permits, and close to $4 billion has been spent in them. The objective is to directly and indirectly employ 10 million people. Additionally, it is anticipated that these economic zones will produce and export goods worth $40 billion annually.
In the economic-zones, investors can benefit from tax breaks and duty-free imports of machinery and raw materials. Different nations, including Japan, China, India, Australia, the Netherlands, Germany, America, the United Kingdom, Singapore, South Korea, and Norway, have invested in the economic-zones through foreign direct investments. The inauguration was originally scheduled on October 26. However, due to bad weather brought on by Cyclone Strang, the planned start of operations of the industrial units as well as the laying of the foundation stones for various infrastructures at the economic zones were postponed.
Know more: