Construction of Rangunia EPZ to resume soon
Friday, 5 June 2009
FE Report
The government is likely to approve a project for the construction of the country's first ever information technology (IT) and agro-based export processing zone (EPZ) in Chittagong.
Chittagong Industrial Park Limited (CIPL), a Chittagong-based company, took a move to construct the EPZ in 1999 at Rangunia in the port city.
The project remained shelved for nearly one decade mainly because of non-cooperation of the previous governments, project authority told the FE.
The CIPL was denied optical fibre connectivity and other necessary services from the successive governments although the first private EPZ was given licence to operate in 2000.
"We expect that our long-cherished dream for the EPZ will be materialised shortly," Kayum Chowdhury, managing director of the CIPL told the FE Tuesday.
Once the project is approved around US$600 million will be invested for development of the project. Local investors and donor agencies will give financial support for the infrastructure development, CIPL sources said.
Prime Minister Sheikh Hasina inaugurated the proposed Rangunia Export Processing Zone (REPZ) in 1999.
The EPZ will be built on 450 acres of lands, a large chunk of which belongs to the CIPL.
The EPZ site is only 30 kilometres away from the port city Chittagong and well connected with the country's premier port through Karnaphuli river.
Mr Chowdhury said the World Bank will provide them some financial support, which will create jobs for over 50,000 skilled and semi skilled people.
CIPL officials said investors from Hong Kong, China and Singapore were keen to invest in the EPZ in 2000, mainly because of comparatively cheap labour.
"We will again take a move to bring back those investors," Mr Chowdhury said.
Currently, Bangladesh has eight EPZs under Bangladesh Export Processing Zone (BEPZA) employing over 230,000 people.
The government also awarded a licence to Korean-based Youngone Group to construct and operate Korean Export Processing Zone (KEPZ), a private EPZ, on the south bank of Karnaphuli in Chittagong. The activities of the KEPZ remained halted mainly because of gas supply problem.
However, EPZs under the BEPZA have so far exported goods worth US$ 18.47 billion since 1983 with an investment worth $ 1.56 billion.
The government is likely to approve a project for the construction of the country's first ever information technology (IT) and agro-based export processing zone (EPZ) in Chittagong.
Chittagong Industrial Park Limited (CIPL), a Chittagong-based company, took a move to construct the EPZ in 1999 at Rangunia in the port city.
The project remained shelved for nearly one decade mainly because of non-cooperation of the previous governments, project authority told the FE.
The CIPL was denied optical fibre connectivity and other necessary services from the successive governments although the first private EPZ was given licence to operate in 2000.
"We expect that our long-cherished dream for the EPZ will be materialised shortly," Kayum Chowdhury, managing director of the CIPL told the FE Tuesday.
Once the project is approved around US$600 million will be invested for development of the project. Local investors and donor agencies will give financial support for the infrastructure development, CIPL sources said.
Prime Minister Sheikh Hasina inaugurated the proposed Rangunia Export Processing Zone (REPZ) in 1999.
The EPZ will be built on 450 acres of lands, a large chunk of which belongs to the CIPL.
The EPZ site is only 30 kilometres away from the port city Chittagong and well connected with the country's premier port through Karnaphuli river.
Mr Chowdhury said the World Bank will provide them some financial support, which will create jobs for over 50,000 skilled and semi skilled people.
CIPL officials said investors from Hong Kong, China and Singapore were keen to invest in the EPZ in 2000, mainly because of comparatively cheap labour.
"We will again take a move to bring back those investors," Mr Chowdhury said.
Currently, Bangladesh has eight EPZs under Bangladesh Export Processing Zone (BEPZA) employing over 230,000 people.
The government also awarded a licence to Korean-based Youngone Group to construct and operate Korean Export Processing Zone (KEPZ), a private EPZ, on the south bank of Karnaphuli in Chittagong. The activities of the KEPZ remained halted mainly because of gas supply problem.
However, EPZs under the BEPZA have so far exported goods worth US$ 18.47 billion since 1983 with an investment worth $ 1.56 billion.