Chinese firm to invest $45m in Bangabandhu Sheikh Mujib Shilpa Nagar
Chinese firm Fujian Mengba Investment Co Ltd will build a steel construction materials factory at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) by investing $45 million.
To this end, Bangladesh Economic Zones Authority (Beza) and Fujian Mengba Investment signed an agreement on Wednesday (14 June) for allotment of 20 acre land to the company, Beza said in a press release.
Beza said the company will manufacture construction materials including MS rods, angles, channels with an investment of about $45 million. The factory is expected to create employment for 1,350 people.
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Beza Investment Promotion Executive Member (Additional Secretary) Md Mozibor Rahman and Fujian Mengba Investment's Wang Yuan Yao signed the agreement on behalf of their respective sides.
China's Fujian Mengba Investment Co Ltd manufactures steel construction material including steel structure for bridge, beam, steel truss, tube truss, box column, modular house, H-beam etc.
Beza Executive Chairman Shaikh Yusuf Harun said, "As Bangabandhu Sheikh Mujib Shilpa Nagar is becoming prosperous, Beza is providing all the necessary services including gas, electricity for the establishment of industries to the best of its ability."
Bangabandhu Sheikh Mujib Shilpa Nagar, one of the largest economic zones in South Asia, is being constructed in an area of 30,000 acres of land in Mirsarai and Sitakunda upazilas of Chattogram and Sonagazi upazila of Feni.
Earlier, five Chinese investors were allotted land in BSMSN. Overall, eight Chinese investors have been allocated land in the economic zone.
Beza has set a target of building 100 economic zones by 2041.
