Titas Economic Zone gets pre-qualification license

Bangladesh Economic Zones Authority (BEZA) has gave pre-qualification license to private-run Titas Economic Zone (TEZ), the fourth EZ of Meghna Group of Industries, located at Chalivanga under Meghna upazila of Cumilla district.
FE

The authority issued the pre-qualification license to establish the TEZ at a function at BEZA headquarters in the city, reports BSS citing a press release.

BEZA Executive Chairman Shaikh Yusuf Harun presided over the function while Meghna Group of Industries Chairman Mostafa Kamal joined the function as the special guest.

The zone is being established on 161 acres of land on the bank of river Meghna. There is a plan to expand the EZ to 400 acres in future.

The Meghna Group expects a new investment of US$3 billion in the new economic zone. The first phase of development will focus on accommodating domestic and foreign industries on 161 acres. Approximately 60,000 employment opportunities will be created in this economic zone.

TEZ enjoys a lucrative location with river facility and being close to the Dhaka-Chittagong Highway. The zone is 35km away from Dhaka zero point, 50 km from Hazrat Shahjalal International Airport, 210 km from Chittagong Sea Port and 32 km from Kamalapur Rail Station.

Currently, there are three economic zones under the Meghna Group. The zones are Meghna Industrial Economic Zone (MIEZ), Meghna Economic Zone (MEZ) and Cumilla Economic Zone (CEZ).

Speaking on the occasion, Shaikh Yusuf Harun said investors from home and aboard are giving significant response in developing economic zones in the country.

He expressed his hope that the EZ will become an effective one to encourage rapid economic development through increase and diversification of industry, employment, production and export.

Eight private economic zones with final certificates are currently engaged in commercial production under the BEZA.

Products are being manufactured in two economic zones of the City Group, namely City Economic Zone and Hoshendi Economic Zone. Besides, Abdul Monem Ltd’s Abdul Monem Economic Zone, Bay Group’s Bay Economic Zone, Aman Group’s Aman Economic Zone and Bashundhara Group’s East-West Special Economic Zone are also engaged in product manufacturing.

Three other zones that obtained licences- Sirajganj Economic Zone, Kishoreganj Economic Zone, Karnaphuli Dry Dock Special Economic Zone (SEZ)-are ready for handover to investors.

Yusuf Harun informed that $4 billion has already been invested in private economic zones that have obtained final licences so far.

Mustafa Kamal said TEZ will maintain international standards to provide uninterrupted supply of electricity, gas, water, and will be equipped with a power sub-station, CETP (common effluent treatment plant), CSTP (common safety training programme), fire services, etc.

By setting up economic zones, he said, Meghna Group is working to attract investment from both home and abroad.

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