Construction of first hi-tech park begins in Gazipur today

The construction of Bangladesh's first hi-tech park begins in Gazipur today, 16 years after the initial plan was made in 1999.

Bangladesh TechnoSity, the government-appointed developer for the 40-acre block-3 in Kaliakoir, an upazila of Gazipur, will lay the foundation stone of the first building through an event. The work order was given in August this year. The company plans to finish the building in one and a half years. 

TechnoSity officials said they are going to develop an 186,000-square-foot “smart” building, equipped with both environment friendly and worker-safety features.

The energy-efficient building will have a water recycling plant and will be equipped with an emergency evacuation system.  

TechnoSity plans to invest some $25.8 million (about Tk 200 crore) and finish the job in six years, even though the agreement allows for ten, a top executive of the company said.

“In one year's time, we should be able to begin handing over plots to the allotted companies,” said Moynul Haque Siddiqui, chairman of TechnoSity.

“We will also spend more on developing the plots if necessary, as some international companies have already showed interest in investing here.”

The hi-tech park will create some 60,000 jobs in ten years, said Hosne Ara Begum, managing director of Bangladesh Hi-Tech Park Authority.

TechnoSity is a joint venture between the local company Fiber@Home and three Malaysian companies -- IRIS Corporation, MSC Technology Centre and Alpha Technologies. Fiber@Home holds a 76 percent stake in the consortium, with the rest shared by the Malaysians. 

The consortium will have to share its revenue with the government: 12 percent of building rents, 21 percent of land rents, 5 percent of service charge on utility bills, and 6 percent from all other earnings.

Earlier in June, the government entered an agreement with another consortium, Summit Technopolis, for the construction of development of blocks 2 and 5 that span 65 acres and 29 acres respectively. Technopolis will invest some $114.56 million on block 2 and $93.03 million on block 5.

Both Technopolis and TechnoSity will operate the blocks for 40 years, after which the agreements could be extended for another 20.

It will take some time to assign a developer for block 1, on 65 acres, as the government intends to make it the administrative block, Hosne Ara Begum said.