PowerPac signs MoU with French farm IDEC to develop green economic zone at Mongla

PowerPac Economic Zone Limited, a sister concern of one of the country's largest business conglomerates 'Shikder Group', on Monday signed a Memorandum of Understanding (MoU) with France-based 'IDEC Group Asia' for developing green economic zone at the PowerPac Mongla Economic Zone.

Chairman of PowerPac Economic Zone Limited, Rick Haque Sikder and Chief Executive Officer (CEO) of IDEC Group Asia, Patrice Lafargue signed the MoU on behalf of the respective organisations at the Ball Room of Waldorf Astoria Shanghai in China. Managing Director of PowerPac Economic Zone, Ron Haque Sikder and other senior officials from both the organisations were present on the occasion. Under the MoU, the IDEC Group Asia will develop and operate the Mongla Economic Zone on 205 acres of land.

On the occasion, a bi-lateral meeting also took place between the top management of PowerPac Economic Zone Limited and IDEC Group Asia. In the meeting, it was discussed that a Special Economic Zone would also be developed at Central Business District Project area under Sector-19 at Purbachal in the capital and the IDEC Group Asia will be responsible to operate this project.

It is mentionable that Power Pac Economic Zone (Pvt) Limited has set up the country’s first private economic zone near the Mongla Port. The area is located within one km of the Mongla Port and 20-km of Hazrat Khan Zahan Ali Airport in Bagerhat. Sikder Group is to develop and operate the first-ever economic zone on a 'Design, Build, Finance, Own, Operate and Transfer' (DBFOOT) basis in Bangladesh. Around 25,000 jobs are expected to be generated through this economic zone.