Cabinet body approves deal to develop Mongla Economic Zone
It will be the first economic zone in the country to be operated under public-private
partnership
UNB
The Cabinets Economic Affairs Committee yesterday approved three proposals including a contract with Power Pac PPMKPPL JV for developing the Mongla Economic Zone, reports UNB.
Power Pac PPMKPPL JV is a sister concern of local Sikder Group, which already signed an initial agreement in August last year with Bangladesh Economic Zones Authority (BEZA) to develop and operate Mogla Economic Zone (MEZ).
MEZ will be the first economic zone in the country to be operated under public-private partnership (PPP).
The private sponsor will now develop about 205 acres of land with all the necessary infrastructures to facilitate setting up export-oriented industries as well as factories to supply goods to local market. A meting of the Cabinet body, with Finance Minister AMA Muhith in the chair, gave approval to the proposals.
Earlier on May 28 this year, Power Pac obtained the first pre-qualification license from the BEZA to develop the Mongla Economic Zone under the PPP model.
So far, the government has awarded the works for developing four economic zones to private sector investorsone to Abul Monem Limited and AK Khan Group while two zones to Meghna Group. The officials said the BEZA has already created 22 economic zones while another eight are awaiting the 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.
In the meeting the Cabinets Economic Affairs Committee also approved two separate contracts with Bangladesh Army and Bangladesh Navy for riverbank protection under the direct procurement method (DPM).
As per the proposals placed by the Water Resource Management Ministry to the Cabinet Division, the Bangladesh Army will get the work order for a 1,300 meter river bank protection at a location adjacent to the ongoing Padma Bridge projects river training.
The 1,300 meter area is located at Mawa old ferry terminal to Kandipara-Jasholdia area.
The Bangladesh Navy-operated Dockyard and Engineering Works Ltd will get the work order for the right side river bank protection of the Jamuna River at Krunibari to Chandanbaisa in the Sariakandi upazila of Bogra district.
