Sunday, June 28th, 2020

Bashundhara and PowerPac to set up bag making plant at Mongla Economic Zone

Published 11:06 pm | June 28, 2020

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Online desk : PowerPac Economic Zone Private Limited has signed a land lease agreement (LLA) with Bashundhara Industrial Complex Limited (BICL) to provide 30 acres of land for setting up a bag manufacturing plant at Mongla Economic Zone.

The LLA was signed between the PowerPac and the BICL at a function at Sonargaon Hotel in Dhaka on Sunday in presence of Paban Chowdhury, chairman of BEZA and all senior officials of Bangladesh Economic Zones Authority (BEZA).

Sayem Sobhan Anvir, Managing Director, Bashundhara Group and John Huque Sikder, Group Director, PowerPac Economic Zone Pvt. Limited, signed the agreement while top officials of both sides were present at the event.

As per the agreement, the BICL has been allocated 16 acres of land at Mongla economic zone for setting up bag manufacturing plant to support their prevailing requirements. The plant will help increase employment opportunities as well as play a major role to improve the national economy.

PowerPac Economic Zone (Pvt.) Limited, a concern of Sikder Group, the first company that was awarded with a license for 50 years to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) 205 acres land of Mongla Economic Zone, Bagerhat under Public Private Partnership (PPP) model with the support of Bangladesh Economic Zones Authority (BEZA).

Mongla Economic Zone is potentially the most lucrative economic zone in Bangladesh due to its strategic location within one km radius of Mongla Port, which is the second biggest seaport of the country. The proposed site for the planned Khan Jahan Ali Airport is located only 20 km away from the zone.

The completion of the Padma Bridge, flagship infrastructure project of the country’s first 50 years, will itself open up a number of options for time-efficient transportation through road and rail connecting the southwest part of Bangladesh. This will play a vital role to increase the demand of Mongla Economic Zone (MEZ) as well as Mongla Port.

MEZ is now fully developed for setting up factories. Various infrastructure development activities are going on there to the tune of over Tk 300 crore.

The zone is legally considered to be a custom bonded area. As such, Ansar contingent is deployed for security and safety of the investors.

Upcoming off-site infrastructures of the zone has included but not limited to entrance plaza, place of worship, commercial bank, insurance company, admin building, fire station, guest house, investors club, service apartment, dormitory, retail stores, warehouse, customs, CETP etc.

Almost a third of the total land under MEZ has been identified as green and open spaces, making it an eco-friendly zone.

A good number of local investors like Bashundhara Group and foreign investors have shown interest for setting up various manufacturing plants within the MEZ.

PowerPac Economic Zone Pvt. Ltd welcomes all local and foreign investors to invest at Mongla economic zone considering its strategic location and future business potentiality, said the press release.

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