Agreement signed to set up a bag manufacturing plant at Mongla Economic Zone
Mongla economic zone will set up a bag manufacturing plant on 30 acre of land for which PowerPac Economic Zone Private Limited signed a Land Lease Agreement (LLA) with Bashundhara Industrial Complex Limited (BICL) on Monday.
The LLA was signed between the PowerPac and the BICL at a function at Sonargaon Hotel in the city on Sunday in presence of Paban Chowdhury, Chairman of BEZA and All senior officials of Bangladesh Economic Zones Authority (BEZA), said a press release.
Sayem Sobhan Anvir, Managing Director, Bashundhara Group and John Haque Sikder, Group Director, PowerPac Economic Zone Pvt. Limited, signed the agreement while top officials of both sides were present in the event.
As per the agreement, the BICL has been allocated 16 acres of land at Mongla economic zone for setting up bag manufacturing plant to support their prevailing requirements. The plant will help increase employment opportunities as well as play a major role to improve the national economy.
PowerPac Economic Zone (Pvt.) Limited, a concern of Sikder Group, the first company that was awarded with a license for 50 years to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) 205 acres land of Mongla Economic Zone, Bagerhat under Public Private Partnership (PPP) model with the support of Bangladesh Economic Zones Authority (BEZA).
Mongla Economic Zone is potentially the most lucrative economic zone in Bangladesh due to its strategic location within a 1-kilometre radius of Mongla Port, which is the second biggest seaport of the country. The proposed site for the planned Khan Jahan Ali Airport is located only 20 Kilometer away from the zone.
The completion of the Padma Bridge, flagship infrastructure project of the country's first 50 years, will itself open up a number of options for time-efficient transportation through road and rail connecting the southwest part of Bangladesh. This will play a vital role to increase the demand of Mongla Economic Zone (M.E.Z.) as well as Mongla Port.
M.E.Z. is now fully developed for setting up factories. Various infrastructure development activities are going on there to the tune of over Tk300 crore.
PowerPac Economic Zone Pvt. Ltd. welcomes all local and foreign investors to invest at Mongla economic zone considering its strategic location and future business potentiality, said the press release.