CHITTAGONG, Dec 15: The Korean Export Processing Zone (KEPZ), the First ever EPZ of the country, developed by a foreign entrepreneur in Chittagong has already developed 2,092 acres of land for setting up export oriented industries.
Located at in Anowara on the south bank of the river Karnaphuli the EPZ has so far implemented 95 per cent of the development plan on an area of 2,492 acres, KEPZ Executive Director Muhammad Shahjahan told reporters.
Moreover, he said, 22 industries have so far been set up in the Zone area creating job opportunities for nearly 14,000 workers. The industries to be set up at the EPZ will include shoe factory and the readymade garments.
However he disclosed that the authority concerned of the government was yet to allow mutation of the leased land that is recoding the zone under the ownership of the KEPZ.
The KEPZ official hoped that the government would permit the KEPZ in having mutation of land very soon.
It may be mentioned that Young One Corporation of South Korea submitted a proposal to establish a Korean Export Processing Zone.
According to the proposal over 150 small and medium size and 30 large-scale key industries will be established in 2,492 acres of the export processing zone.
Initially, the gross value of production of KEPZ was estimated at an amount of Tk 54 billion per annum and net value of Taka 18 billion per annum.
The Karnaphuli Shoe Industries and garments industries have already started operation.
According to Project profile, the KEPZ will have container park, jetty, modern science park and research centre, five star hotel, modern golf course, play ground, artificial lake, airport, banks, power generator, international hospital, residential houses, school and college, training centre, shopping complex, post office, custom shed, fire station, etc.
With the implementation of the project, about 200 including 50 heavy industries would be set up creating job opportunities for one lac people.
Sources said, the development and plot preparation work started from October 1999 after the inauguration of the KEPZ project by the then Prime Minister Sheikh Hasina.