Three cos to invest $27.81m in EZs

Three local companies will invest $27.81 million in two economic zones (EZs) of country to establish industrial units and a resort.
Their proposed investment is expected to create employment for around 800 people in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) and Sabrang Tourism Park.
The three companies inked land lease agreements with Bangladesh Economic Zones Authority (BEZA) at a ceremony held at its headquarters in the city's Agargaon on Tuesday.
BEZA Executive Chairman Shaikh Yusuf Harun presided over the deal signing ceremony as the chief guest.
BEZA Executive Member Md Mozibor Rahman, Managing Director (MD) of Bangladesh Agriculture Products Ltd or BAPL Aameir Alihussain, Real Estate Division Director of Rangs Properties Limite Mashid Rahman, and MD of Istamarina Refueling Station Ltd Ishtiaque Ahmed Patwary inked the agreements on behalf of their respective organisations.
According to the investment proposals, BAPL, a subsidiary of BSRM group, will set up a cashew nut and agricultural product processing plant with an investment of $14.57 million on 10 acres of land at the BSMSN. The plant is expected to create employment for around 400 people.
Meanwhile, Istamarina Refueling Station Ltd, a subsidiary of Knit Plus Limited, will install refuelling station of CNG, LPG, octane, petrol, diesel, car-washing facility, restaurant, and shopping mall at the BSMSN with an investment of $2.97 million on two acres of land.
Moreover, Rangs Properties, a subsidiary concern of Rancon Group, will establish a hotel and resort on three acres of land at Sabrang Tourism Park with an investment of $10.27 million. There will be employment for nearly 400 people.
Welcoming the investors, BEZA Chairman said his team is always prepared to provide the investors with all required services to help facilitate the investment.
He requested all the lessees to begin their construction work of the industrial units soon as growing economic activities in the economic zones are important for the country's economy.
"BEZA aims to establish 100 EZs by 2041 and manufacture goods and services worth $40 billion," he said.
"Being apprised of the BEZA's success so far, many foreign companies are showing their interests to invest in the EZs," he added.
Mr Aameir Alihussain said his company will work to improve the cashew nut farmers' living standard in Bangladesh by limiting middlemen's influence on them.
He also said the company aims to cater the local demand for the processed cashew nuts and export them in foreign countries.

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