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Mongla Economic Zone offers huge investment opportunities


Published : 14 Oct 2019 09:06 PM | Updated : 07 Sep 2020 07:19 AM

Speakers at the grand inauguration ceremony of Mongla Economic Zone on Monday said that due to the strategic location of the Mongla Economic Zone and upcoming Padma Bridge the demand of the economic zone and Mongla Port will be increased significantly. They said that such massive development project undertaken at the single biggest economic zone in Bangladesh - Mongla Economic Zone - would considerably contribute to the growth of the national economy further accelerating business activities and hence making substantial positive impact on the economy of south-western regions of the country.

They also said that Mongla Economic Zone is playing a vital role towards the achievement of the global sustainable development goals (SDG) of the United Nations. The speakers made the above remarks at the ‘Investment Promotion Program of Mongla Economic Zone’ organized by PowerPac Economic Zone Pvt. Ltd. (a concern of Sikder group) associated with Bangladesh Economic Zones Authority (BEZA) held in Pan Pacific Sonagaon on Monday morning.

BEZA has targeted to establish 100 Economic Zones throughout the country with the objectives to create 10 million jobs and ensure $40 billion additional production and export within the time frame of 15 years.

Mr. Salman Fazlur Rahman, MP, attended the programme as the Chief Guest who is also Private Industry and Investment Adviser to the Honorable Prime Minister. Mr. Md. Abul Kalam Azad attended the programme as the Special Guest who is also Principal Coordinator, SDG Affairs while Mr. Paban Chowdhury and Mohammed Ayub attended as Executive Chairman of BEZA and Executive Member of BEZA respectively.

Mr. Ron Haque Sikder Managing Director of PowerPac Economic Zone Pvt Limited, Syed Qamrul Islam Mohon, COO & Director (Operation), Mr. Mohammad Salahuddin, Project Director and Mr. Naimuzzaman Mukta, Director (Strategy Development), were present in the event.

In his speech Mr. Salman Fazlur Rahman, MP said that due to the strategic location of the Zone and upcoming Padma Bridge the demand of the Mongla Economic Zone and Mongla Port will increase significantly. He thanked Sikder Group for their initiatives to develop and operate first ever Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis Economic Zone in Bangladesh.

In his speech Mr. Abul Kalam Azad said that Mongla Economic Zone is playing a vital role towards the achievement of sustainable development goals (SDG) set by the United Nations. He also mentioned that the combination of the Mongla Port and Mongla Economic Zone will be beneficial for exporters and importers.

Mr. Paban Chowdhury said that Sikder Group is striving to fulfill many dreams of the Prime Minister’s vision 2021 and 2041 through execution of Mongla Economic Zone and their other numerous projects. Executive Member of BEZA, Mr. Mohammed Ayub also presented the potentiality of the Mongla Economic zone and inspired the unit investors to invest in Mongla Economic Zone.

In the event Project Director of PowerPac Economic Zone Private Limited, Mr. Mohammad Salahuddin mentioned that about 44 percent land of the Processing Zone already allocated for the various industries and balance land of the Processing Zone is still available for the unit investors with attractive incentives and facilities.

PowerPac Economic Zone Mongla, signed the Developer Agreement on 25 February 2016 with Bangladesh Economic Zones Authority (BEZA) to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) of Mongla Economic Zone at Mongla, Bagerhat, having 205 acres of land for a period of 50 (fifty) years.

Bangladesh Economic Zones Authority (BEZA) has been established with the enactment of Bangladesh Economic Zones Act, 2010 with the objective to develop regional and lagging areas of the country by developing industrial land, attract investment in export and import substitute industries, foster and generate employment and thereby ensure economic development of the country.

BEZA has targeted to establish 100 Economic Zones throughout the country with the objectives to create 10 million jobs and ensure $40 billion US dollar additional production and export within the time frame of 15 years.

Mongla economic zone (Mongla EZ) is strategically well connected with Dhaka and other major cities of Bangladesh. It is located beside Mongla River and the Mongla seaport is less than a kilometer from the zone. Road distance between Mongla EZ and Dhaka is 170 km (through Mawa), proposed Khan Jahan Ali airport at Rampal 20 km.

Once the Padma Bridge goes into operation, Mongla port activities will enhance significantly. Cargo handling at Mongla port is increased by 30 percent every year. Government is constructing 53km long Khulna-Mongla railway line to connect the second largest sea port Mongla with the railway network.

Mongla EZ is now fully developed for setting up factories. Various infrastructure development activities are going on at Mongla EZ site in the tune of over taka 300 crore. The zone is surrounded by boundary wall along with deployment of Ansar contingent for security and safety of the investors. The central and periphery road are completed for movement of machineries and goods.

A 33kva sub-station and underground water reservoir is also completed to facilitate the requirements of the investors. Drainage construction work is underway. Upcoming off-site infrastructures of the zone will be included but not limited to CETP, Entrance Plaza, Place of Worship, Commercial Bank, Insurance Company, Admin building, Fire Station, Guest House, Investors Club, Service Apartment, Dormitory, Retail Stores, Warehouse, Customs, etc.

About 30pc of the total land has been identified as green and open spaces. The zone will be divided into blocks of appropriate size, which can be subdivided into plots according to the layout plan. Depending on demand for size of the plots, smaller plots could be clubbed together.

Good number of investors from home and abroad has shown interest for setting up plants at Mongla EZ. Some companies already signed land lease agreement for establishing HFO storage facility, 100MW power plant, Steel fabrication plant, Toiletries plant to name few.