Asian Paints will invest $20 million in Mirsarai Economic Zone and as part of the plan the company will build its second factory on a 20-acre of land.
The foundation stone of the factory was laid in the area today.
Speaking as the chief guest, former housing and public works minister Engineer Mosharraf Hossain, said, "Bangabandhu Sheikh Mujib Industrial City will be the largest economic zone in Asia."
He said, "The economic zone is being developed on 30,000 acres of land. It will create employment for 15 lakh people. A number of factories will go into production this year."
Executive Chairman of the Bangladesh Economic Zones Authority Paban Chowdhury said the Mirsarai Economic Zone is being developed encompassing parts of Mirsarai, Sitakunda, Sonagazi and Sandwip upazilas.
"Over the next five years, about Tk10,000 crore will be spent to develop various infrastructures including roads and bridges."
Ritesh Doshi, chief executive officer of Asian Paints Bangladesh, said, "Paint-making material will also be produced in this factory. It will go into production by June 2021."
"It will be Asia's largest paint factory. $20 million will be invested here. The factory will employ about 200 workers. It will be an environment-friendly factory."