250 new industrial plots to be set up at Tk 550cr

The government has decided to expand the Mirsarai Economic Zone by adding more than a couple of hundred industrial plots that will raise the project cost by more than Tk 550 crore.

Under the current project, some 250 industrial plots were set to be built. The number of plots will now be 539, an official of Bangladesh Economic Zone who is also involved with the expansion process, said.

Besides, the necessary amenities including a fire station, sidewalks, car repair and maintenance plot are being built.

Bangladesh Export Processing Zones Authority will implement the project. The cost of the main project was estimated at Tk 750.57 crore. Now, the project cost will be around Tk 1,303 crore. Instead of its first deadline of 2021, the project will now be completed in 2023.

The revised project will be placed at the meeting of the Executive Committee of the National Economic Council (ECNEC) on Tuesday. The ECNEC meeting will be held at the NEC conference room in the capital’s Sher-e-Bangla Nagar. It will be chaired by Prime Minister Sheikh Hasina.

Sharifa Khan, a member (secretary) of the Planning Commission’s industry and energy division, told Business Insider that some 100 economic zones would be built in phases to boost Bangladesh’s trade and commerce.

The government has announced to employ about 10 million people in those 100 economic zones in the next 15 years. Toi that end, the work additional works of Mirsarai Economic Zone of Chittagong are going on, Sharifa said.

She said an increasing the number of industrial plots means additional volume of land to be developed and more physical infrastructure to be built.

“Attracting domestic and foreign investment, earning foreign exchange through production and export of goods, transfer of new technology will increase the efficiency of Bangladeshi citizens,” she added.

Explaining the spillover effect of the project, Sharifa said unemployment and poverty will be alleviated and the socioeconomic condition of the country will improve through the establishment of various backward industries and creation of employment.

Under the revised proposal, 1.156 crore cubic meters of land development, 3.64 lakh square meters of roads and 36,065 square meters of sidewalks will be constructed. A total of 61,283 meters of drain, 9,038 meters of barbed wire fencing and 4,465 meters of boundary wall will be built.

Various categories of residential buildings, club, administrative building, customs building and service building will be constructed.

Besides, the complex will have a mosque, a medical center and incorporate other amenity providing centres.

The project is in line with the priorities of product diversification and increasing competition in industrial production. It will cause rapid industrialization and increase export earnings for the country.