3 domestic companies to invest over Tk87cr in Jamalpur Economic Zone

Three domestic companies will invest over Tk87 crore in Jamalpur Economic Zone, and they have signed a land lease agreement with Bangladesh Economic Zone Authority (BEZA) in this regard.

Also, the investment of the companies will provide employment opportunities to around 550 people in the economic zone.

The land lease signing ceremony took place among BEZA, Max Infotech Limited, Nobel Navigation and Shipping Lines, and Reliance Solutions at BEZA office on Monday.

According to BEZA, lease agreements have been signed with the three bodies for 2 acres of land each.

Abdul Mannan, executive member of BEZA, Zakaria Khan, head of operations at Max Infotech Limited, Mahmudul Hasan, proprietor of Nobel Navigation, and Mahfuzur Rahman on behalf of Reliance Solutions signed the lease agreement.

Paban Chowdhury, executive chairman of BEZA, said, "As part of the planned industrial zone in remote areas of the country, this area of Jamalpur is being developed for processing food and agricultural products."

"The establishment of an industrial zone there will connect the people of the mid-region with the country's economy and also will set a new example in macroeconomic development," he added.

The combination of local and foreign technologies will create a trend of regional development and create a skilled and technically experienced population, he further added.

According to the Max Infotech, it will build an agro-processing plant and a food and beverage industry with an investment of around Tk23 crore, which will employ about 250 people.  

Nobel Navigation and Shipping Lines will set up an oven bag manufacturing plant in the zone with an investment of about over Tk40 crore. And it will create employment of around 100 people.

Similarly, Reliance Solutions Limited, a subsidiary of Biolip Agro Industry Limited, has proposed to set up an agro factory with an investment of nearly Tk10 crore on 1 acre of land to produce refrigerated dried Aloe Vera powder and potato starch powder.

On the other 1-acre land, it will manufacture medical and surgical products with an investment of almost Tk15 crore. Consequently, the company will employ about 200 people in total, the company said. 

It is mentionable that the Jamalpur Economic Zone will be the first government implemented economic zone under Mymensingh division. The zone will be established on a total of 436 acres of land. The successful implementation of the zone will directly create employment opportunities for about 32,000 people.

The zone is suitable for setting up agro-based industries and garments, according to the feasibility study report.

The construction of gas transmission line and 33/11 KVA power sub-station has already been completed while the construction of administrative and dormitory buildings is nearing completion.

Besides, the constructions of drainage system, land development, ground water reservoir, boundary wall, internal road are underway.

Following the instructions of the prime minister, an open reservoir of 100 acres will be constructed in this economic zone.