An agreement for the development of Mongla Economic Zone (MEZ) is likely to be placed before the Cabinet Committee on Economic Affairs tomorrow. According to official documents, Abul Kalam Azad, principal secretary to the Prime Minister’s Office, recently sent a proposal to Bangladesh Economic Zones Authority (BEZA) for finalising the agreement between them and PowerPac, a sister concern of Sikder Group, to develop and operate the MEZ as the country’s first-ever economic zone in public-private partnership model. PowerpPac Holdings Limited and PowerPac-Mutiara Keraniganj Power Plant Limited, a joint venture company have already signed an initial agreement with BEZA for the site’s development. The government is going to build the economic zone on 205 acres of land, which was bought from the Mongla Port Authority. Now PowerPac will develop the site with all necessary infrastructure. BEZA officials said the MEZ, which is expected to be constructed by 2018, would be suitable for industries.
