The Executive Committee of the National Economic Council (Ecnec) on Tuesday cleared the proposal of setting up an economic zone in Narayanganj for Japanese investors spending Tk 2,582 crore.
The committee approved a total of eight development projects in the weekly Ecnec meeting held at the NEC conference room in Dhaka with Ecnec Chairperson and Prime Minister Sheikh Hasina in the chair.
Planning Minister MA Mannan while briefing reporters after the meeting said the Ecnec meeting cleared a total of eight projects involving the estimated cost of Tk 6,276.24 crore.
Of the total cost, Tk 3,313.92 crore will be borne from the national exchequer, while Tk 2,962 crore as foreign assistance, he said adding that all the approved projects are fresh ones.
About the economic zone project, the minister said the 'Development of Infrastructure for Japanese Economic Zone at Araihazar in Narayaganj Project' involving the estimated cost of Tk 2,582.18 crore will be implemented by June 2023.
Of the project cost, Tk 454.35 crore will come from the government fund, while the rest Tk 2,127.82 crore as project assistance from Japan through Japan International Cooperation Agency (JICA), he said.
Bangladesh Economic Zones Authority (BEZA), the project-implementing agency, will develop land, construct access roads and set up a power plant, substation, transmission lines and gas pipelines under the project.