PowerPac sign PPP Mongla Economic Zone

PowerPac signs PPP deal to develop Mongla Economic Zone

PowerPac sign PPP Mongla Economic ZonePower Pac PPMKPPL JV, a sister concern of Sikder Group, on Tuesday signed an initial agreement with Bangladesh Economic Zones Authority (BEZA) to develop and operate Mogla Economic Zone (MEZ) as the country’s first-ever economic zone in public-private partnership (PPP).

Power Pac chairman Rick Haque Sikder and BEZA executive director (investment & development) Abdus Samad signed the deal on behalf of their respective sides at a function at BEZA head office at Karwanbazar in the capital, a news agency report said.

BEZA chairman and government’s secretary Paban Chowdhury and top officials of the two organisations were present at the function.

Earlier on May 28 this year, Power Pac obtained the first pre-qualification licence from the BEZA to develop the Mogla Economic Zone under the PPP model.

So far, the government has awarded four economic zones to private sector investors — one to Abul Monem Limited and AK Khan Group while two zones to Meghna Group — to develop privately.

But MEZ was awarded to Power Pac under PPP which has been the first of its kind. The private sponsor will now develop about 205 acres of land with all necessary infrastructures to facilitate setting up export-oriented industries as well as factories to supply goods to local market.

The officials said the BEZA has already created 22 economic zones while another eight are under official process for approval. Of these, Japanese investors are keen to obtain three economic zones while Chinese entrepreneurs are lobbying for getting two and Indian investors for two more economic zones.

Retrieved from thefinancialexpress-bd.com