The Comilla Economic Zone (CEZ) is set to get the final nod from the government which will pave the way to attract more local and foreign investments, people familiar with the matter said.
The privately-owned industrial park, operated by Meghna Group of Industries (MGI), is expected to create employment opportunities for around 50,000 people and draw investment worth US $2.0 billion.
"We are ready to provide the CEZ with the final licence soon as all procedures have been done in this regard," said Shaikh Yusuf Harun, Executive Chairman of the Bangladesh Economic Zones Authority (BEZA).
He also expressed the hope that the economic zone (EZ) will play a vital role in the country's economic development by attracting investment and generating employments.
"There have already been a number of privately-managed EZs in the country, who have shown their efficiencies," he noted.
He said that the MGI has shown its competence as it has already been operating two other economic zones.
The CEZ will get the final nod from the BEZA at a ceremony to be held next week in the city, sources said.
According to information available with the MGI, the conglomerate runs two other EZs - Meghna Economic Zone and Meghna Industrial Economic Zone, both located in Narayanganj district.
The CEZ is situated in Meghna Upazilla of Cumilla district close to the Dhaka-Chattagram highway, according to data available with the BEZA, the regulatory body of EZ operations in the country.
The industrial zone, which is expected to go for commercial operations within the next year, spreads over 350 acres of land, of which 246 acres will be prepared in the first phase.
There will be a total of 115 industrial plots, which will vary between one acre and six acres.
The CEZ will have its own power stations, water supply system and natural gas from state-owned gas distribution company, Titas as well as Common Effluent Treatment Plant (CETP), Sewage Treatment Plant (STP), and Water Treatment Plant (WTP).
Modern amenities like Investors' Club, commercial centres, residential buildings and parks will also be there, said MGI's Deputy General Manager Suman Chandra Bhowmik.
"We already have established a helipad along with other required amenities to facilitate the operations in the EZ," he said.
Some foreign companies from countries like the USA, Japan and Germany have already expressed their interest to set up their industrial units in the CEZ, he added.
As per data available with the BEZA, a total of $3029.41 million has already been invested and 14.513 jobs have been created by the private economic zone developers.
The authority has also given pre-qualification licenses to 17 private economic zone developers, of which half a dozen got the final permission earlier.
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