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Energypac Power signs land lease deal with BEZA

The co to invest Tk 3989 million

FE Desk | June 12, 2019 00:00:00

Mohammed Ayub (left), Executive Member of BEZA, and Engineer Rabiul Alam (right), Chairman of EPGL, exchanging the signed documents in the event held on Tuesday

Energypac Power Generation Limited (EPGL), a subsidiary of Energypac, signed an agreement with Bangladesh Economic Zones Authority (BEZA) on Tuesday at BEZA office in the city.

Under the agreement, BEZA will lease a piece of land to EPGL at Bangabandhu Industrial City, Mirsarai Economic Zone for Energypac Steel Limited-a project which will draw a total investment of BDT 3989 million from EPGL.

Once completed, Energypac Steel Ltd. will specialize in steel processing and manufacturing shipping containers enhancing the capacity of Energypac alongside bringing in further excellence in steel engineering.

Paban Chowdhury, Executive Chairman (Secretary) of BEZA; Md. Harunur Rashid and Mohammed Ayub, Executive Members of BEZA were present at the signing ceremony alongside Engineer Rabiul Alam, Chairman of EPGL.

Mohammed Ayub and Engr. Robiul Alam signed the agreement on behalf of their respective organizations.

"As a local entity, Energypac has heavily invested in the energy and engineering sector opening up new business opportunities and creating employment. We believe, this is a timely investment which has immense potentials as Bangladesh is setting examples in maintaining consistent economic growth over the past decade. We would also like to express our gratitude to the BEZA authority for land allocation and overall support, said Engr. `Rabiul Alam.

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