A private entity, Purbagaon Economic Zone (PEZ) has received a final license from the government aiming to establish an industrial estate on around 93 acres of land in Narayanganj.
The private Economic Zone (EZ), a concern of leading conglomerate City Group which will initially invest TK 100 billion in establishment of the PEZ, is also expected to create around 11,000 jobs there.
The PEZ, located at Kayet Para union under Rupganj upazila, is being established on the bank of the River Shitalakshya, adjacent to the Dhaka-Sylhet highway.
It is 25 kilometres away from the capital city of Dhaka and 180 kilometres from the Chattogram seaport by road.
The BEZA Executive Chairman Shaikh Yusuf Harun handed over the final license to Managing Director of City Group Md Hasan at a ceremony held at the headquarters of Bangladesh Economic Zones Authority (BEZA) in the city's Agargaon area on Tuesday. Top officials of the BEZA and City Group were present at the license handover ceremony.
Speaking on the occasion Shaikh Yusuf Harun said the government formed the BEZA to ensure planned industrialisation in the country.
"Now the BEZA and other government agencies concerned have been providing all the required services including utility connections with utmost priority," he said.
A one-stop service has also been functioning in this regard, he added.
Congratulating the City Group on obtaining the license for third EZ, he said the group had been operating in the country with a huge market base thanks to its goodwill achieved through its dedication.
The BEZA believes that the entrepreneurs behind the PEZ will play a vital role in creating new jobs and draw investment using their previous experiences.
Managing Director of City Group and the Chairman of the PEZ Md Hasan said the group has already established two other EZs namely City Economic Zone and Hoshendi Economic Zone drawing investment worth TK 220 billion.
The PEZ will be established on around 93 acres of land which will later expand to nearly 150 acres, he said.
The EZ will host industrial units from diversified sectors including steel, spinning, chemicals and ceramics.
He, however, sought the government's support for providing the investors with uninterrupted power and gas supply.
According to data available, the BEZA has so far awarded 22 licenses to private EZ operators. Of them, 12 operators got the final licenses.
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