Bangladesh Economic Zones Authority (BEZA) yesterday awarded prequalification licences to Bashundhara Group to build two separate economic zones in South Keraniganj near Dhaka. The economic zones will be named as “Bashundhara Special Economic Zone Limited” and “East-West Special Economic Zone Limited.” BEZA Executive Chairman Paban Chowdhury handed over the licences to Bashundhara Group Adviser Major General (retd) Mohammad Mahbub Haider Khan. Bashundhara Special Economic Zone will be developed mainly for petroleum oil refinery industry, said M Fakhruddin, chief operating officer of the group, at the licence awarding ceremony. He said Bashundhara Oil and Gas Company will be a major investor in the economic zone. “We will also welcome foreign investment after completion of the zone’s development work,” M Fakhruddin added. The economic zones will have investments in petroleum oil refinery or petrochemica industries, LPG cylinder manufacturing and LPG bottling plant, food and beverage, food products, chemical and chemical products, ship building, steel and steel products, modern and specialised hospitals, education, hospitality and shopping malls. The zone is expected to create 40,000 employments. The government has a target of setting up 100 economic zones in the country, out of which 50 will be from private sector, said BEZA Executive Chairman Paban Chowdhury. A total of 10 private sector companies, including the Bashundhara Group, has received pre-qualification licences for setting up private economic zones in the country. The economic zones are expected to increase export earnings by $40bn and provide around 10m jobs.
