Jamalpur Economic Zone ready for investors

Jamalpur is ready to get busy with industrial activities as a 436-acre economic zone is ready for investors with all modern facilities.

Nine companies have already presented proposals to the Bangladesh Economic Zones Authority (Beza) for investing more than Tk350 crore in the Jamalpur Economic Zone.

Employing 3,675 people, these companies will produce agro-based products, medical and surgical items, woven bags and PVC flex banners, etc, in the economic zone.

So far 11 companies have signed agreements with Beza on leasing 88 acres of land in the economic zone.

The authorities have already handed over land to five of the companies that expect to start production soon.

Experts say that the economic zone will help alleviate poverty in the district by expanding economic activities as it expects to employ around 32,000 people.

According to the Bangladesh Bureau of Statistics, 52.5% people in Jamalpur district live under the poverty line.

In August, Color Style Bangladesh Ltd was allotted six acres of land to invest $11.76 million in setting up RMG, dyes and textiles chemicals factories. The company expects to employ 1,235 people.

Mohammad Ziaur Rahman, managing director of Color Style Bangladesh, said the company will start production soon.

Sheikh Yusuf Harun, executive chairman of Beza, told The Business Standard, "The economic zone in Jamalpur will be a suitable place for processing food and agricultural products. It is part of a planned industrialisation process across the country."

"This will involve the local population with the country's mainstream economy and set a new example in macroeconomic development," he added.

Bioleap Agro Industry and Bioleap Industry, two subsidiaries of Reliance Solution Ltd, were allotted two acres of land in the economic zone. The company will build an agro-based factory on one acre of land with an investment of $1.15 million.

The other half of the land will be used for manufacturing medical and surgical items where the company will invest $1.73million.

Max Infotech Ltd will set up an agro processing food and beverage factory on two acres of land. It will invest $2.68 million. Silken Sewing Ltd has allotted six acres of land in the economic zone.

Besides, Noble Navigation and Shipping Lines will build a woven bag industry on two acres of land investing $4.74 million. Bio-Xin Cosmeceuticals will invest $3.49 million to produce cosmetics, probiotic fish feeds, poultry and fish feeds on four acres of land.

Step Media Ltd will invest $9.63 million to build a six-acre PVC flex banner manufacturing industry.

PPS Plastic Industries Ltd will build a factory on five acres of land with an investment of $7.92 million. The company will manufacture uPVC pipes, HDPE pipes, uPVC doors, uPVC fittings, hangers, corrugated pipes and PVC garden hose pipes.

Earlier this month, Silken Sewing Ltd was allotted six acres of land in the Jamalpur Economic Zone. The company will set up an export-oriented knitted dyed fabric factory with an investment of $9.00 million. The company hopes that this will create employment for at least 1,012 people.

M Enamul Haq, managing director of Silken Sewing Ltd, said, "We will start construction of the factory soon. The factory will produce jersey tops, nightwear, sweaters and hoodies."

However, BSCIC has been allotted 50 acres of land in the economic zone. Besides, a letter of allotment has been issued to BITAC to provide five acres of land.

Development of the project

Work on the Tk330 crore Jamalpur Economic Zone project got underway in 2016. The duration of the project will come to an end this year.

According to Beza, construction of a gas connection line, 33/11 KVA power sub-station, water supply line, and land development have already been completed.

Around 80% of electricity connection work and 90% of road connection have been done. However, the construction of office buildings, dormitories, entrances and boundary walls is 80% complete.

Beza says the Jamalpur Economic Zone is ready to provide all kinds of facilities to investors.

The economic zone will host companies which will produce jute and jute-based products, RMG products, pharmaceuticals, spices, leather products, ceramic products, etc.

Developed and undeveloped land in the economic zone is available on a 50-year lease. Beza is responsible for developing the land, building utilities and access roads before handing over the plots. However, it hands over land after payment of the full amount.

Beza is working toward establishing 100 economic zones across the country by 2030. The goal is to create employment for 10 million people directly as well as indirectly. It also expects to produce and export products worth $40 billion annually in and from these economic zones.