BEZA seeks two more years to develop Indian EZ at Mirsarai

The development of the Indian Economic Zone (EZ) at Mirsarai upazila in Chattogram is set to be delayed two more years due to the corona pandemic and ongoing winter season, officials have said.

Under the Indian third line of credit, the Bangladesh Economic Zones Authority (BEZA) launched the Tk919.85 crore project in April 2019 and is expected to be completed by June 2021.

“The BEZA has sought an extension from June 30, 2021, to June 30, 2023, to complete the work. It cited Covid-19 and winter season,” said a senior finance ministry official citing a letter received from the BEZA on Tuesday. 

“In the letter, Beza said the cost of the project will not be immediately increased because of the two years delay. But the project cost is likely to increase just before the end of the project,” he said.

The BEZA also wrote to Prime Minister Sheikh Hasina for seeking an extension by two years.

BEZA Executive Chairman Paban Chowdhury admitted that his organization sought a time extension to complete the project. “We’ve also sought an opinion from the finance ministry,” he said.

“Covid-19, winter season, and the low land are behind the reasons for delaying the project,” said the Chowdhury.

The Ahmedabad-based Adani Group is developing the Indian EZ on 1,000 acres of land in Chattogarm. It is expected to create about 3 lakh jobs directly.

 The Indian government approved $115 million for the project on June 11 last year under its third LoC worth $4.5 billion to Bangladesh, which was agreed upon in 2017.