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04 October 2022

Business Insider Bangladesh

BEZA inks land lease deals with six firms

BI Desk || BusinessInsider

Published: 19:58, 21 September 2022  
BEZA inks land lease deals with six firms

Photo: Collected

Bangladesh Economic Zones Authority (BEZA) on Wednesday signed land lease agreements with six companies.

The companies are: Healthcare Pharmaceuticals Limited, Ifad Autos, East West Travels and Tours Ltd and three firms of Dipta Group – DIRD Composite Textiles Ltd, Dipta Garments Ltd and DIRD Garments Ltd.

BEZA Executive Member (Administration and Finance) Abdul Azim Chowdhury, Healthcare Pharmaceuticals' Director Md Halimuzzaman, Ifad Autos Managing Director Taskin Ahmed, DIRD Group Director Miz Shejuti Daulah and East-West Travels' Managing Director Mahmudul Hasan signed the agreements on behalf of their respective organizations at a function at BEZA conference room in the city, said a press release.

Five of the firms will be allocated the plots at the Sabrang Tourism Park, and one at the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram's Mirsharai, reports BSS.

All the plots span a total of 17 acres as the investments are expected to generate at least 8,219 jobs, said Beza officials on conditions of anonymity.

Speaking at the deal signing ceremony, BEZA Executive Chairman Sheikh Yusuf Harun said BEZA has been successful in building an investment-friendly environment in Bangladesh where the largest industrial city in South Asia is being constructed at Mirsharai.

"The economic zone is set to bring an industrial revolution which will improve the living standards of people alongside achieving the sustainable development goals," he said.

informed that BEZA has adopted several initiatives to establish a world-class tourism centre in Sabrang Tourism Park.

Sabrang Tourism Park will be the first exclusive tourism park in Cox's Bazar district encompassing an area of 1,027 acres. Sabrang has an amazing hill and sea beach territory. The purest air, lofty hill, sea and lagoon offer the perfect conditions for the development of tourism and entertainment facilities.

Ifad Autos, a subsidiary of Ifad Group, is a local industrial giant with prominence in consumer goods and commercial vehicles. It will get plots at the Sabrang Tourism Park to plough into $16.20 million to build a 3-star hotel and resort.

Coming into operations in 1984, DIRD Group is involved in garment manufacturing, textile, engineering, software and agricultural sector. The three firms of the group will also get plots at Sabrang.

They will build cottages, resorts, hotels and motels at a total investment of $38.21 million, according to the investment proposal. The group expects at least 669 people will be employed at the new businesses.

The fifth company East West Travels and Tours Ltd, established in 1988, will also build a hotel at Sabrang on 1 acre of land.

Healthcare Pharmaceuticals Limited, one of the leading local drug-makers in Bangladesh, will get a 10-acre plot at the Bangabandhu Sheikh Mujib Shilpa Nagar.

Beza has already allotted 30 acres of land to Healthcare Pharmaceuticals at the Bangabandhu Silpa Nagar.

The drug-maker said it needs another 10 acres of land for business expansion in active pharmaceutical ingredients and formulated pharmaceuticals products.

The company will invest $4?? million to set up its new plants at Shilpa Nagar to expand its manufacturing capacity.

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