Bangladesh Economic Zones Authority (BEZA) on Sunday inked a land lease agreement with Marico Bangladesh Limited to invest in Bangabandhu Sheikh Mujib Shilpanagar (BSMSN).
Under the agreement, Marico Bangladesh Limited, one of the leading cosmetics manufacturers in India, will set up its third factory in BSMSN, a flagship project of BEZA, invest $ 27 million and create nearly 500 jobs.
The factory will mainly produce cosmetics and PET bottles, the agreement stated.
Ashish Gopal, managing director of Marico Bangladesh and senior officials of the company, were present at the signing ceremony, which was chaired by BEZA Executive Chairman Paban Chowdhury.
Accelerating the economic development of the country, establishing 100 economic zones in 15 years, directly and indirectly creating employment for 10 million people, the activities of the economic zones with the expectation of an additional $60 billion every year by 2030 is being implemented under the direction of Prime Minister Sheikh Hasina.
The BSMSN is being established on about 30,000 acres of land in Sitakunda and Mirsarai Upazilas under Chittagong district and Sonagazi Upazila under Feni district.
An investment worth $23 billion has already been confirmed there.
Foreign investors include Nippon from Japan, Asian Paints from India, Berger Paints from the United Kingdom, Wilmer from Singapore and many more.
Of the local investors, some well-known companies are PHP, Bashundhara Group and T. K. Group of Industries.
Even during the Covid-19 pandemic, an investment proposal of about $ 5.0 billion has been accepted for this industrial city.
