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PowerPac EZ opens door for pvt investors to invest in Mongla

15 October, 2019
Source: The Daily Sun

PowerPac Economic Zones Private Ltd, a concern of Sikder Group, has opened its door for private investors aimed to increase investment into the economic zone of Mongla.

It has already allotted 44 percent of the 205 acres of land to the private sector investors to set up industries in the economic zone (EZ) and called upon the most investors to invest at the EZ considering location and future business potentiality.

Some companies including giant multi-national company Unilever Bangladesh have already signed land lease agreement for establishing business units.
The disclosure was made at an investment promotion programme of PowerPac Economic Zone held at a city hotel on Monday, jointly organised by PowerPac Economic Zone and Bangladesh Economic Zones Authority (BEZA).

The Private Industry and Investment Adviser to the Prime Minister Salman Fazlur Rahman was present as the chief guest while Principal coordinator, SDG Affairs in the Prime Minister's Office Md Abul Kalam Azad , Executive Chairman of BEZA Paban Chowdhury, PowerPac Economic Zone Pvt Managing Director Ron Haque Sikder were present as the special guests.

The economic zone is the first public-private partnership (PPP) basis economic zone in Bangladesh which is located beside Mongla River and the Mongla seaport.

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 Economic Zone at Mongla, having 205 acres of land for a period of 50 (fifty) years.

Speaking on the occasion, BEZA executive chairman said that it is the first PPP project which is ready for establishing industries now.

“We have facilitated all sorts of services to make the land ready for infrastructure. Local and foreign investors are now showing interest to invest in the economic zone”, said BEZA Executive Chairman.
Narrating the prospect of economic zone model for Bangladesh, Paban Chowdhury said that it will change the face of Bangladesh economy through industrialisation.

SDG Affairs Principal coordinator, Abul Kalam Azad urged the investors to invest in the PowerPac Economic Zone saying that Mongla is strategically a good location for investment.

About the One Stop Service of BEZA, he said that they are providing real one stop service to the investors.

Salman F Rahman said that out of government’ targeted 100 economic zones, 28 economic zones are now in operation.

Apart from the earlier government to government economic zones, Salman F Rahman said now countries like Saudi Arabia, United Arab Emirates and South Korea are keen to develop economic zones in Bangladesh.

This economic zone will host all facilities such highly secured entrance plaza, inland container depot, electrical sub-station, tank terminal, power plant, two jetties with the state of art facilities.