PowerPac Economic Zone Private Limited signed a Land Lease Agreement with Bashundhara Industrial Complex Limited to provide 30 acres of land for a bag manufacturing plant at Mongla economic zone.

The LLA was signed between the PowerPac and the BICL at a function at the Sonargaon Hotel in the city on Sunday in presence of Paban Chowdhury, Chairman of BEZA and all senior officials of Bangladesh Economic Zones Authority, said a press release.

Sayem Sobhan Anvir, managing director, Bashundhara Group and John Haque Sikder, group director, PowerPac Economic Zone Pvt Limited, signed the agreement while top officials of both sides were present in the event.

As per the agreement, the BICL has been allocated 16 acres of land at Mongla Economic Zone for setting up bag manufacturing plant to support their prevailing requirements. The plant will help increase employment opportunities as well as play a major role to improve the national economy.

PowerPac Economic Zone Pvt Ltd, a concern of Sikder Group, the first company that was awarded with a license for 50 years to Design, Build, Finance, Own, Operate and Transfer 205 acres land of Mongla Economic Zone in Bagerhat under public private partnership model with the support of Bangladesh Economic Zones Authority.

Mongla Economic Zone is located within a 1-kilometre radius of Mongla Port, which is the second biggest seaport of the country. The proposed site for the planned Khan Jahan Ali Airport is located only 20 Kilometre away from the zone.

MEZ is now fully developed for setting up factories. Various infrastructure development activities are going on there to the tune of over Tk 300 crore.