Bashundhara gets 500 acres of land in MEZ

Bangladesh Economic Zones Authority (BEZA) has allocated 500 acres of land in its Mirsarai Economic Zone (MEZ) for setting up of Bashundhara Industrial Economic Zone (BIEZ). Executive member (investment and development) of BEZA Md Harunur Rashid and managing director of BIEZ Safwan Sobhan signed a land lease agreement at a ceremony held at BEZA's office in the city yesterday, said a media release. Executive chairman of BEZA Paban Chowdhury, vice-chairman of Abdul Momen Group Mainuddin Momen, CEO of Bashundhara Group Md Fakhruddin, among others, were present at the program. Bashundhara Group will set up a modern pulp, paper and board mill at a cost of US$500 million which is expected to create jobs for 10,000 people. BEZA said it has already got local and foreign investment proposals involving about US$10 million for the MEZ, the country's largest industrial park. The size of the MEZ is 30,000 acres and BEZA has already acquired 16,000 acres of land to develop the MEZ. Development of a 50-km-long four-lane road inside the zone, nine gates, the 40-km Dhaka-Chittagong highway and an 18-km-long mountain road is going on inside and near the MEZ.