6 cos to invest $70m in 3 industrial estates

Six companies will invest $70 million in various sectors in the Bangabandhu Sheikh Mujib Shilpa Nagar, Sabrang Tourism Park, and Jamalpur Economic Zone.

The sectors include industrial racking systems, manufacturing plants, tourism, kitchen appliances, air separation plants, and industry product processing.

Sources at the Bangladesh Economic Zones Authority (Beza) said land lease agreements with the companies will be signed on 27 September.

The firms have been allotted 21 acres of land at the three industrial enclaves, which is expected to create more than 2,594 job opportunities.

According to Beza, Linde Bangladesh will set up air separation plant factories with an investment of $17.44 million. 

Among the six companies, Master Rack and Furniture will invest $ 7.12 million to set up industrial racking system manufacturing plant factories on three acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar. 

Sanjana Fabrics, OMC and SSL Hotel and Resorts will invest $43.21 million in setting up hotels and resorts. 

Kinbo Manufacturing Industries will build a kitchen appliances manufacturing plant by investing $2.18 million on two acres of land in Jamalpur Economic Zone.

Master Racks and Furniture Managing Director Al-Mamun told The Business Standard (TBS), "Warehouses require racks to store goods. We make them. They are part of the logistics industry. This business is now growing. Once it was 100% import-dependent but now the country caters to 95% of its demand. Besides, there is a possibility of export. It is a market of about $20 billion. We are building a new factory to capture this market."

"About 40 companies in Bangladesh make racks. The annual sales of racks in Bangladesh are worth Tk200-250 crore. We sell products worth Tk55-60 crore annually. Its market is getting bigger," he added.

Beza Executive Chairman Shaikh Yusuf Harun said there will be some land lease agreements with some companies on 27 September. Companies from tourism and other sectors will invest in the EZs.

Beza sources said Linde Bangladesh Ltd will build a factory on five acres of land in Bangabandhu Sheikh Mujib Shilpa Nagar, investing $17.44 million.

Officials of Linde Bangladesh informed The Business Standard that the company has received a Provisional Letter of Allotment from the Bangladesh Economic Zones Authority (BEZA) for the allocation of 5 acres of industrial land in the Mirsarai Economic Zone, Chattogram. They will use the land for the establishment of their new manufacturing facility. Currently, the company is in the process of finalising the lease agreement with BEZA. This agreement is anticipated to be formalised on 27 September, pending the fulfillment of specific terms and conditions.

Linde Bangladesh Ltd has been a prominent presence in Bangladesh since 1953, evolving into one of the foremost gases and engineering firms in the country. Operating under the name Bangladesh Oxygen Ltd initially, it was recently rebranded as Linde Bangladesh Ltd. The company boasts an extensive range of industrial, specialty, and medical gases in its product portfolio, along with the country's most extensive direct sales and distribution network.

At Sabrang Tourism Park, Sanjana Fabrics Ltd, OMC Ltd and SSL Hotel and Resorts will build hotels and resorts investing $20 million, $7.06 million and $16.15 million respectively. 

Sabrang Tourism Park – the country's first exclusive tourism park – is under construction in Cox's Bazar.

The country's largest industrial city, the Bangabandhu Sheikh Mujib Shilpa Nagar, is being constructed in an area of 30,000 acres of land in Mirsarai and Sitakunda upazilas of Chattogram and Sonagazi upazila of Feni.

The Beza is working toward establishing 100 economic zones across the country by 2041. The goal is to create employment for one crore people. The Beza also expects to produce and export products worth $40 billion annually in and from these economic zones.