2 companies to invest $28.69 million in Bangabandhu Shilpa Nagar

Bangladesh Economic Zones Authority (Beza) on Monday signed agreements with four companies, including two Chinese ones to invest in Bangabandhu Sheikh Mujib Shilpa Nagar.

China Civil Engineering Construction Corporation and Jeihong Medical Bangladesh will invest $28.69 million on 18 acres of land in the Bangabandhu Shilpa Nagar and create 2,000 jobs.

The representatives of the foreign companies signed land lease agreements with Beza at a ceremony in the city.

Also, Brac Bank signed a memorandum of understanding (MoU) with the Beza to set up a branch in the Bangabandhu Shilpa Nagar.

And mobile financial service provider bKash signed another MoU with the authority to facilitate financial transactions for the investors at the Beza One Stop Service (OSS) Centre.

According to the investment proposals, China Civil Engineering Construction Corporation will invest $15.97 million on 10 acres of land to manufacture export-oriented steel structure and ready-mix concrete materials.

Jeihong Medical will invest $12.72 million on eight acres of land to manufacture medical accessories like isolation gown, scrub suits, lab jackets, disposable cap, shoe cover and boot cover.

Both companies will adopt an environmental management plan to ensure environmental safety at the economic zone (EZ).

Beza is developing Bangabandhu Shilpa Nagar in the country’s southeastern part to encourage rapid economic development through diversification of industry, production, export and employment.

The industrial city is being developed on around 33,000 acres of land encompassing – Mirsarai, Sitakundu and Sonagazi – under Chattogram and Feni – covering 25 kilometres of coastlines of Sandeep channel of the Bay of Bengal.

Source: United News of Bangladesh