Shreehatta Economic Zone (SEZ) is expected to be opened for setting up industries by 2018 as land development is going on in full swing.
"BEZA has already allocated land to six companies for industrialization in the zone," Bangladesh Economic Zones Authority (BEZA) Executive Chairman Paban Chowdhury told BSS.
The companies are DBL Economic Zone Limited, Ayesha Clothing Company Limited, Aswad Composite Mills Limited, Great Wall Ceramic Industries Limited, Double Glazing Limited and Abdul Monem Economic Zone Limited.
Out of the six companies, he said, five companies will invest around US dollar 1.4 billion for setting up a total of 25 industries in the zone.
The zone will create employment opportunities for about 45,000 people, he added.
Talking to BSS, a high official of Abdul Monem Economic Zone Limited said the company is going to develop 19 acres of land of the economic zone.
Shreehatta EZ, located at Sherpur under Maulovibazar Sadar Upazila, will be the first economic zone in the Sylhet division encompassing an area of 352 acres.
The zone is situated beside the Dhaka-Sylhet Rail link. Shreemongol railway junction is only 35 km from the zone, Osmani International Airport is only 55 km and Shahjalal International Airport 208 km from the zone. Distance of Tamabil Land Port from the zone is only 100 km with direct access to Kushiara River.
BEZA will ensure uninterrupted supply of electricity to the zone. Bangladesh Rural Electrification Board (BREB) will provide 20 MW power to the zone and a 33 KV dedicated line will be drawn from existing 132 KV Grid Substation located nearby.
The zone is also well connected with telecommunication network as mobile connectivity is available in the area and Moulvibazar telephone exchange is one KM away from the zone.
Under the Bangladesh Economic Zones Act 2010, BEZA had been established to set up EZs in the potential areas of the country. BEZA is implementing a plan to establish 100 Economic Zones by 2030 on 75,000 acres of land to fetch more investment as well as to create employment for one crore people and increase export earnings.
The broad objectives of BEZA are structural transformation of the economy of Bangladesh through attracting FDI, diversifying export, promoting skill development, sharing knowledge, generating employment, ensuring dynamic benefits for the domestic industry and social and environmental sustainability.
BEZA is playing regulatory role to establish EZs. BEZA is appointing developers under the PPP modality to develop the EZs in addition to developing Zones by itself. Private sector is also establishing EZs by taking license from BEZA.
Source: BSS