Home ›› 25 Jul 2021 ›› Front
Saleh Noman . Chattogram
The earlier industrial revolution powered by jute and cottage industry and subsequently apparel industry in the 1980s is a bygone era. Time is now at Mirsarai, the country’s first multi-sector economic zone, gearing up for fourth industrial revolution.
All-out preparation is underway to kick off production within a few months at the Mirsarai Economic Zone at Bangabandhu Shilpa Nagar.
With an area of about 30,000-acre land adjacent to Dhaka-Chattogram highway, the industrial vicinity is expected to employ at least 1.5 million people in the next 15 years.
Nippon and McDonald Steel Industries Limited, Asian Paints and a power plant of Bangladesh Power Development Board are the three business entities to commence their journey soon, according to Bangladesh Economic Zones Authority (BEZA).
The steel industry with a $59.19-million proposed investment is the first enterprise to kick off operation in the country’s biggest industrial enclave.
So far, 152 companies have been allotted plots totaling 6,000 acres. The business ventures are from India, China, Japan, Korea, US and UK including the Bangladeshi ones that will invest a total of $200 billion in which $2 billion will be Foreign Direct investment.
So far, $40-billion investment proposal from local and foreign investors have been placed with the Bangladesh Economic Zones Authority for the government economic zones across the country.
Of the amount, around $24 billion investment has already been confirmed of which around $23 billion will alone go to Mirsarai.
BEZA Executive Chairman Paban Chowdhury said the Japan–Bangladesh joint venture steel industry -- Nippon and McDonald Steel Industries Limited -- has already completed its total setup and been waiting for inaugural.
“All the factories are getting an all-out support from us, but the work progress is not at an optimum level due to the pandemic. We are trying our best to start production soon,” Paban said.
In the economic zones of the country, BEZA is offering developers financial and non-financial incentive packages including income tax exemption, import duty rebate, capital and dividend transfer, visa and citizenship for local and foreign investors and employees.
The Investors will be able to avail themselves of necessary services of various government departments through One Stop Service OSS of BEZA.
So far the fully completed plant in Mirsarai Economic Zone is a power plant built by BR Powergen Ltd, a joint venture of Bangladesh Power Development Board and Rural Power Company Ltd RPCL, with the support of Synohydro, Chinese state-owned Hydro Power and Construction Company.
Another Chinese giant China Harbor Engineering Company is the first entity to erect a two-storey office building using concrete.
On the building wall are images of different constructions across the world including ports, power plant, bridges and harbor protection by Chinese firms, various Chinese proverbs and slogans, clearly suggesting a kind of campaign for China’s much-hyped Belt and Road initiative BRI.
BEZA sources said the Chinese firms are also constructing 22-kilometre-long harbor protection embankment and underground water supply lines.
Nippon-McDonald Steel Industries
The Economic Zone authority estimates that Nippon-McDonald Steel Industries Limited has a production capacity of 60,000 tons of steel goods per year and can create around 2,019 jobs.
The company Manager, Abdullah Al Mamun, said: “We had a plan to go into operation within June-July. We are almost all set for the production of quality steel sheets of different standards depending on the stock of imported raw iron we have.”
“Manpower has already been hired for the launch of the factory. Last-minute preparations are going on. We will fix the date of lunch soon.”
Asian Paints Limited
The Indian paint brand -- Asian Paints Limited -- with a proposed investment of $26 million has completed infrastructure building and is now installing machinery. The factory can produce 25,000-kilolitre paint per year.
According to the officials of Asian Paints, work is going on as usual with the support of BEZA authorities. Though they faced some difficulties during shutdown, they are now upbeat that production will start within months.
PDB Power Plant
The construction work of Power Development Board’s power plant at Mirsarai EPZ at a cost of Tk 1,068 crore is nearing completion. The plant will be able to generate 168.6-megawatt electricity.
Maruf Saleh, executive engineer of the power plant, said the plant is scheduled to start operation on October 30 this year and 168mw of electricity will be added to the national grid daily.
Uttara Motors Limited
The local automobile company is building a vehicle-manufacturing and assembling factory taking up a 50-acre land in the economic zone. It is planning to set up an assembly plant for Japanese motor brand Suzuki.
Modern Syntex Ltd with an investment of $150 million has significant development in terms of building infrastructure and installation of equipment as well.
BEZA authorities are hopeful that by the end of the year, at least a dozen companies will start operation while others will follow suit.
Quizzed about Mirsarai Economic Zone’s contribution to the national economy, Paban Chowdhury said by 2022, the industrial city will come into a shape and then it could be predicted.
Due to its proximity to Chattogram Port and Dhaka-Chattogram economic corridor, Bangabandhu Shilpa Nagar is being considered one of the most attractive investment hubs in the country as well as in South Asia.
By 2025, goods worth $3,000 million could be produced, of which an export worth $1,500 million made, according a feasibility study in 2014.
