Bangladesh Economic Zone Authority (BEZA) has signed an agreement with X Ceramics Limited and Dysin Advanced Materials Limited for the allocation of 30 acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar.
The agreement was signed at the BEZA office, with Sheikh Yusuf Haroon, the Executive Chairman of BEZA, presiding over the meeting. Senior officers from investment institutions and non-executive officers were also present at the meeting.
X Ceramics Limited will establish a ceramics industry on 20 acres of land in Bangabandhu Sheikh Mujib Industrial City, a new sector within the industrial city. The company plans to invest approximately USD 29 million in setting up the industry, which is expected to create employment opportunities for around 1,500 people.
X Ceramics Limited has been contributing to various sectors, including ceramics, since 2009. Mahin Bin Mazhar, the Managing Director of X Ceramics Limited, stated that they currently operate 25 factories and have one of the most advanced tile manufacturing plants in South Asia. The company has set a target of reaching USD 100 million in exports within 2-3 years after acquiring the land, making it one of their largest factories.
Dysin Advanced Materials Limited will establish a textile chemical industry on 10 acres of land. The company intends to invest approximately USD 13 million in setting up the industry. Mohammad Amanur Rahman, the Managing Director of Dysin Advanced Materials Limited, stated that they have 45 years of production experience. He highlighted the market potential of the chemical industry in Bangladesh, which is worth around USD 3 to 4 billion, largely dependent on imports. He proposed the establishment of a chemical industrial park in BEZA to develop an import complementary industry through local chemical production.
Sheikh Yusuf Harun, the Executive Chairman of BEZA, congratulated both investors, acknowledging their reputation and contribution to their respective fields. He expressed confidence that the collaboration with these investors would lead to increased investment and product diversification in the economic region. Sheikh Yusuf Harun also emphasized BEZA's commitment to overcoming challenges in providing services to investors and ensuring necessary infrastructure, such as water, gas, and electricity connections, through coordination with government agencies. BEZA is working with development partners to establish effluent treatment plants in economic zones, aiming to meet international standards.
The agreement was signed by Md. Mozibor Rahman, Executive Member (Investment Development) on behalf of BEZA, and Mahin Bin Mazher, Managing Director of X Ceramics Limited, as well as Mohammad Amanur Rahman, Managing Director of Dysin Advanced Materials Limited.
The construction of "Bangabandhu Sheikh Mujib Shilpa Nagar" on approximately 33,000 acres in Mirsarai, Sitakund, and Sonagazi upazilas of Chittagong and Feni districts has been initiated by BEZA.
So far, investment proposals totaling around USD 19 billion have been approved for this industrial city, both from domestic and foreign sources. Four companies have already commenced production, inaugurated by the Honorable Prime Minister on November 20, 2022. Another 15 industrial establishments are in the process of setting up industries, with phased production scheduled to begin from September 2023. The industrial city is expected to create employment opportunities for approximately 800,000 people.
