PowerPac to get licence for Mongla Economic Zone | The Daily Star
12:00 AM, February 24, 2016 / LAST MODIFIED: 12:00 AM, February 24, 2016

PowerPac to get licence for Mongla Economic Zone

Bangladesh Economic Zones Authority will award PowerPac Economic Zone Private Ltd a qualification or final licence tomorrow to develop and operate Mongla Economic Zone in Bagerhat.

As PowerPac has fulfilled all the conditions, including an environmental impact assessment, feasibility study and a master plan in line with a prequalification licence, Beza will now sign a developer agreement and give it the final go-ahead.

It will be the first qualification licence among the 10 economic zones, four of which are modelled on public-private partnership and the rest six will be built by private entities. The final licence will allow PowerPac to attract both foreign and domestic investors to set up their industries in the economic zone, said Beza officials.

PowerPac, a unit of Sikder Group, will operate the Mongla Economic Zone for 50 years under a lease agreement, the officials added.

Prime Minister's Principal Secretary Abul Kalam Azad will attend the signing ceremony at the Westin hotel in Dhaka as chief guest, while Beza Executive Chairman Paban Chowdhury will chair the event.

In May last year, PowerPac got the pre-qualification licence from Beza to develop the Mongla Economic Zone on 205 acres.

Beza also awarded prequalification licences to four private companies to set up five economic zones -- one each to AK Khan and Company, Abdul Monem Ltd, Bay Group, and two to Meghna Group.

The government is also setting up four economic zones modelled on PPP: Mirsarai Economic Zone in Chittagong, Mongla Economic Zone in Bagerhat, Srihatta Economic Zone in Moulvibazar and Sabrang Tourism Park in Cox's Bazar.

All the ten economic zones are part of Beza's plan to develop 100 such zones by 2030 on 75,000 acres, and to create jobs for one crore people.

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