Samuda Food Products Limited, a concern of TK Group, is set to invest more than Tk1,740 crore to set up a number of industries and manufacturing plants in Bangabandhu Sheikh Mujib Shilpa Nagar in the southeastern part of the country.
Once complete, the industries are expected to create employment opportunities for around 2,000 people.
Samuda Food Products Limited on Monday signed an agreement to this effect with the Bangladesh Economic Zones Authority (Beza).
"The company will set up various types of chemical industries, consumer goods and food processing plants by investing $205.28 million or Tk1,740.41 crore on 60 acres of land allotted by Beza," MA Kalam, managing director of TK Group of Industries, told The Business Standard.
A press release from Beza said three units of the proposed factory – for edible refinery, caustic soda unit and seed crushing – will be set up at the industrial park.
Various consumables will be produced in the edible refinery unit, while raw salt, brine clarifier and chlorine will be produced in the caustic soda unit. On the other hand, soy-based products will be produced in the seed crushing unit.
TK Group, one of the country's biggest conglomerates, is now involved in various businesses. Starting with trading of commodity products, the business group eventually expanded to tea gardens, edible oil refineries, cement, chemical, paper, and particle board factories, leather processing units, consumer brands, textile, yarn and many others.
Beza Executive Member Md Abdul Mannan and Samuda Food Products Limited Managing Director Mohammad Mostafa Haider signed the agreement on Monday on behalf of their respective organisations, said the Beza press release.
Speaking on the occasion, Beza Executive Chairman Paban Chowdhury said, "All the infrastructure of the Bangabandhu Shilpa Nagar has already become visible; all other facilities needed for community-based housing will soon be constructed through the World Bank's 'Pride Project'."
Beza is also working with various training institutes to create skilled manpower for this huge industrial city, he added.
Work on building a green economic zone to address the effects of climate change is also progressing in full swing, he added.
It is worth mentioning here that Samuda Chemical Complex Limited has been allotted 100 acres of land in Maheshkhali Economic Zone (Dhalghata), where Super Petrochemical Limited, another subsidiary company of TK Group, has also been allotted 410 acres of land.
The two companies have already started work to set up industries there. They will jointly invest over $2.48 billion, which is expected to create 2,500 jobs.