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ACI, Asian Paints to pump $ 321m into Mirsarai zone

FE Report | January 05, 2018 00:00:00

Leading conglomerate ACI Ltd will invest US$ 315 million in Mirsarai Economic Zone to set up new industrial plants on 100 acres of land to expand existing business.

The new ACI industrial unit will create job opportunities for around 5,000 people.

Asian Paints will also invest $ 6.70 million in the next two years at the zone as part of its business expansion to grab the growing market of paints in the country.

ACI Ltd and Asian Paints Bangladesh Ltd on Thursday signed separate agreements with Bangladesh Economic Zones Authority (BEZA) for land allocation at Mirsarai Economic Zone (MEZ) in Chittagong.

The signing ceremony was held at the BEZA headquarters in the city's Karwan Bazar, the BEZA said in a statement.

BEZA executive chairman Paban Chowdhury, ACI Ltd executive director (finance and planning) Pradip Kar Chowdhury and Asian Paints Bangladesh Ltd chief executive officer (CEO) Ritesh Doshi were present at the programme.

The proposed plant will employ around 500 people.

According to BEZA, some 17 companies have got prequalification licence so far to set up economic zones in different parts of the country while five private companies were awarded the final licence.

The government has already appointed a contractor to develop basic infrastructure at the Mirsarai zone.

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