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Sheikh Mujib Shilpa Nagar

TK Group to set up three units, invest $205m

FE REPORT | September 30, 2020 00:00:00

TK Group, a local conglomerate, is set to invest US $205.28 million to manufacture consumer goods and chemical products at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN).

It will establish several industrial units on an area of 60 acres and generate employment for over 2,000 people.

Samida Food Products limited, a subsidiary of the TK Grouop, signed a land lease agreement with Bangladesh Economic Zones Authority (BEZA) at a ceremony held at the latter's headquarters in the city on Monday.

Md Abdul Mannan, an Executive Member of the BEZA, and Mohammad Mustafa Haider, Managing Director of Samuda Food Products Limited, inked the agreement on behalf of their respective organisations.

Executive Chairman of BEZA Paban Chowdhury chaired the event, a BEZA statement said.

As per the investment proposal, the group will set up three industrial units to manufacture chemical and food items.

Speaking on the occasion, Paban Chowdhury said the BEZA has been working to create skilled manpower in addition to helping the businesses establish industrial units in the economic zones.

"Currently all required infrastructure for establishing factories in the BSMSN are visible," said the BEZA official.

He also said a project under the World Bank will start working to establish community-based residential facilities in the industrial city.

He welcomed the TK Group for undertaking the initiative to launch the fourth industrial venture through the BEZA, a state-run agency under the Prime Minister's office.

Modern Syntex, another concern of the TK Group, is currently setting up a factory in the BSMSN on 20 acres of land, the statement said.

Besides, two other subsidiaries of the group got land lease at the Maheshkhali Economic Zone.

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