Titas EZ gets from BEZA licence

Titas Economic Zone, a subsidiary of Meghna Group of Industries, has received pre-qualification licence from the Bangladesh Economic Zones Authority (BEZA).
The proposed private industrial estate is expected to draw investment to the tune of $3.0 billion and generate an estimated 60,000 jobs.
The BEZA formally issued the licence to the Titas Economic Zone (TEZ) at a ceremony hosted at the BEZA headquarters in the capital's Agargaon area on Wednesday.
The TEZ is being developed on 161 acres of land on the bank of the Meghna in Cumilla's Meghna upazila with planned expansion to some 400 acres in future.
BEZA executive chairman Shaikh Yusuf Harun presided over the ceremony while Meghna Group chairman Mostafa Kamal was the special guest.
This is the 22nd pre-qualification licence issued to different private economic zone operators so far.
The Titas EZ plans to house diversified manufacturing units like heavy industries, petrochemical refinery, paper, board, pharmaceutical, IT products, PVC, garment, chemical, plastic, packaging and steel items.
Addressing the event, Mr Harun greeted the MGI and hoped that the suitable geographical location of the private EZ near Dhaka would help attract huge investment from home and aboard.
The MGI has already set up three different EZs such as Meghna Industrial EZ, Meghna EZ and Cumilla EZ.
A total of 27 industrial units have been established in these EZs with an investment worth $1.0 billion, even seven foreign investors have also begun productions.
The BEZA chief also hoped that the MGI would use its experience in making the Titas EZ an investment hub for foreigners.
Expressing gratitude to the government, MGI chairman Kamal said the conglomerate had been working in different sectors and manufacturing export-oriented goods.
The EZ would maintain international standards to provide industrial units with supply of uninterrupted water, power and gas, he added.
The zone will be equipped with all required facilities including a power substation, common effluent treatment plant and fire safety.
According to the BEZA, commercial production has already begun at eight private EZs that got licence.
The EZs host 62 industrial units which have drawn $4.0 billion investment with employment generation for around 42,000 people.

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