Gas, power and water before factories open: Invest Bangladesh moves at Mirsarai economic zone

Invest Bangladesh has taken an initiative to verify the actual demand for utilities such as gas, electricity and water before handing over land, so that commercial production of new factories in the National Special Economic Zone (NSEZ) at Mirsarai in Chattogram is not delayed by a utility crisis.

The organisation is working with the aim of keeping all service infrastructure fully ready within the time it takes to build the prospective industrial units.

Ashiq Chowdhury, chairman of Invest Bangladesh, told the media that regular coordination is being maintained with the entrepreneurs who have received land allocations, to ensure that they get all kinds of connections as soon as the physical infrastructure of their factories is ready.

“We are collecting estimates of gas, electricity and water demand from all the investors to whom we are handing over land,” he said. He added that if the necessary connection lines can be kept ready within the normal time it takes to build a factory, production will no longer be delayed after construction ends on the excuse of a service crisis.

Under this coordinated plan, a total of 39.5 acres of land in the economic zone have recently been allocated to five leading industrial establishments. The entrepreneurs have formally proposed investments of about 109.536 million US dollars in these projects, which, if successfully implemented, will create employment opportunities for at least 6,714 people.

As part of this, at a ceremony held on October 18 in the economic zone's own conference room, land handover certificates were given to Rankon Lubricants Limited, Hamko Corporation Limited, Optimaplast Limited, Savoy Food and Agro Industries Limited, and Golden Food and Agro Industries Limited.

Of the allocated land, Savoy Food and Agro and Golden Food and Agro Industries will jointly invest about 52.8 million dollars on 20 acres. In addition, 10 acres of land have been given to Hamko Corporation with an investment target of 33.36 million dollars.

Rankon Lubricants, on the other hand, has received six and a half acres for an investment of 19.5 million dollars, while plastic products manufacturer Optimaplast has received three acres against an investment of 3.9 million dollars.

According to the latest updated information on the National Special Economic Zone, a total of 134 industrial plots have so far been confirmed for various establishments. Sixteen factories have already started commercial production in full swing, and infrastructure construction is under way for 15 more establishments.

At present, employment has been created for about 8,000 people in the economic zone, and together with 8,000 workers in the adjacent BEZA economic zone, employment for a total of about 16,000 people has been ensured across the industrial corridor. According to the latest financial accounts, domestic investment in the zone stands at Tk 12,815 crore, while foreign direct investment (FDI) of 147 million dollars has been achieved.

To keep this vast industrial project moving, about five and a half thousand acres of land have so far been physically developed. Invest Bangladesh hopes that if this initiative of verifying utility demand before land allocation succeeds, new factories will be able to go into production as soon as construction ends.