BGMEA & Oriental sign MoU for new garment industrial park

19 Jun '14

2 min read

BGMEA President Md. Atiqul Islam and Chief Executive Officer of the Orion Holding Tang Xiaoji signed the MoU on behalf of their respective sides in presence of Prime Minister Sheikh Hasina in Beijing on 10 June. As per the MoU, the Orion Holding will construct the garment village at Gazaria in Munshiganj district.

The BGMEA and Oriental International Holding, a Chinese company, have signed a billion dollar agreement to develop a new garment industrial park in Munshiganj.

“A memorandum of understanding has been signed with the Chinese company in the presence of Prime Minister Sheikh Hasina and her Chinese counterpart Li Keqiang,” BGMEA Vice President Reaz Bin Mahmood said.

BGMEA President Md. Atiqul Islam and chief executive officer of the Orion Holding Tang Xiaoji signed the MoU on behalf of their respective sides.

Reaz Bin Mahmood said the industrial park will be built on 470 acres of land in Gazaria at an approximate cost of $1.2 billion.

Under the MoU, the Chinese company will conduct a complete feasibility study within three months and a framework agreement will be signed between the two parties. “Oriental will also pay money to the government to procure the land,” he said.

The company will develop land, roads, power plant and necessary constructions and build structures for selling it to the members of BGMEA and BKMEA.

After completion of feasibility study, within three months OIH will produce all relevant documents from their authority and financiers for financing the project and full fund for the land payment and other costs.

The government has allocated 470 acres of land at Baushia in Munshiganj for setting up a readymade garment industrial park.

It will have roads, water, power and gas supply, telecommunication, effluent treatment plant, transportations, hospital, hotel and factory sheds.

BGMEA

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