Shreehatta EZ receives $1.4b investment proposals | 2017-09-08 |

Shreehatta EZ receives $1.4b investment proposals

BEZA allot 212 acres land to five companies

Sohel Hossain Patwary     8 September, 2017 12:00 AM printer

The first Public Private Partnership (PPP) economic zone in Sylhet division – Shreehatta Economic Zone – received about $1.4 billion investment proposal from five companies to set up industries in the newly set up economic zone.

Considering the proposals, the Bangladesh Economic Zone Authorities (BEZA) has allocated about 212 acres of land to the five companies at the Shreehatta Economic Zone in Sherpur of Moulvibazar in Sylhet.

According to the investment proposals, the DBL Group is going to make major investment of about $ 1183 million and got 170 acres of land allocation in the zone.

The DBL Group Ltd will establish 20 industrial units in the Shreehatta Economic Zone. The group is interested to invest in spinning textiles, garments, bag manufacturing, ceramics, artificial leather and cable industries.

Sources at BEZA said that Shreehatta Economic Zone will be the first Public Private Partnership EZ in the Sylhet division encompassing an area of 352 acres. BEZA invited investment proposals for the Shreehatta EZ in March of this year. Following their proposal, a total of 11 local and foreign companies expressed their interest to make investment in the economic zone.

After scrutinizing the papers, BEZA choose five companies and awarded 212 acres of land for setting up the industries.

The other four companies include, Ayesha Clothing Company Ltd, Aswad Composite Mills Ltd, Great Wall Ceramic Ltd and Double Glazing Ltd. Of them, Ayesha Clothing Company Ltd and Aswad Composite Mills Ltd each got 7 acres of land and planned to invest $54 and $30 million respectively. Great Wall Ceramic Ltd got 25 acres land and planned to invest $33 million and Double Glazing Ltd got 3 acres of land allocation for setting up their industries.

While contacted, BEZA executive chairman Paban Chowdhury said that a total of 212 acres of land has been allocated for the investors at Shreehatta Economic Zone which has targeted to create more than 43,000 fresh jobs.

“Investors will start building their industrial units this year and hope to go into operation by June, 2019”, he said.

The government has set a target to develop 100 economic zones across the country by 2030 on 75,000 acres of land for creating jobs for one crore people and fetching $40 billion in investment.

As part of it, Prime Minister Sheikh Hasina inaugurated development work of ten economic zones including Shreehatta Economic Zone in February, 2016. The authorities completed land acquisition and site development and floated tender for investors last year. The zone will have 3 KVA dedicated electric line facilities and 14 MMCFD gas line facilities.