Akij to go big at Bangabandhu Shilpa Nagar
Akij Venture, a concern of Akij Group, has expressed its intention to invest Tk 3,480 crore to set up 18 manufacturing facilities at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram.
The investment will be made over the next 10 years in three phases.
An initial proposal for the investment project has already been placed with the Bangladesh Economic Zones Authority (Beza) for approval, said Ferdoush Saleheen, chief supply chain officer of Akij Venture.
"Akij Group always makes quality investments and ensures the development of international standard facilities to grab the domestic and global markets," he said.
As per the plan, Akij Venture would make the investment to establish production facilities, which will create 2,740 new jobs.
Although the project is still in its early stage, Akij Venture has sought cooperation from the Beza to help materialise its plans by providing required land.
Akij Venture has sought 307 acres of land at the BSMSN to accommodate the project, which includes a private port to load and unload goods.
The 18 new units would be divided into five industrial sectors: chemical, agribusiness, electrical, food, and beverage.
The group expects the investment to contribute Tk 1,725 crore per annum to the gross domestic product.
Akij Group is one of the largest industrial conglomerates in Bangladesh and consists of 24 subsidiaries. Its history dates back to 1950 and employs more than 35,000 people at present.
The project is expected to begin next year and be complete in 2031. However, the port and land development will begin as soon as possible after securing the land.
Beza Executive Chairman Paban Chowdhury said that the agency would accommodate the proposal as the group wants to facilitate quality investments.
Akij Group is a large conglomerate that would ensure quality products, which would contribute to the country's export basket, he added.
The investment would also help make foreign investors more confident about investing in the country, Chowdhury said.
"The Beza is continuously improving its services and creating a business-friendly environment for investors, both local and foreign," he said.
The agency is developing the BSMSN on 30,000 acres of land as part of its plan to construct 100 economic zones across the country by 2030.
Investment proposals worth $20 billion have already been approved at the BSMSN that might create jobs for 10 lakh people.