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Feni and Meghna EPZ projects dropped
26
Jul '10
Bangladesh Export Processing Zones Authority (BEPZA) has discontinued with the construction of Feni and Meghna EPZ projects, despite foreign investors demanding for industrial zones in the country's exclusive areas.

The decision was announced, as government now opts for special economic zones (SEZ). Hence, the period of developing EPZs comes to an end.

Earlier, BEPZA had agreed for the construction of two new EPZs adjacent to Dhaka-Chittagong Highway. While the government fixed a site for the aforesaid construction, the World Bank (WB) also carried out their feasibility study.

BEPZA decided to go ahead with construction of two EPZs, as it had received positive signs from the previous government to go ahead with expansion plans.

Each of the said EPZ was to come up on 500 acres of land via public-private-partnership (PPP), with BEPZA funding the initial investment, pertaining to land acquisition.

In 2008, BEPZA approved for the construction of Meghna EPZ to be developed at Gazaria, Munshiganj near Dhaka-Chittagong Highway, amidst rising demand for plots by probable investors.

The proposed Meghna EPZ was to employ over 1,00,000 people. BEPZA's expectations from the EPZ were high, as it was said to be constructed only 34 kilometres away from the city having good connectivity with the port-city.

Already, country's eight EPZs have provided jobs to 2,62,757 people, attracting investments worth more than $1.8 billion till 2009-10. Most of the investors are involved in the production of ready-made apparels and textile goods.

Fibre2Fashion News Desk - India

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