World Bank provides $467.50 million to modernise Bangabandhu Industrial City
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
January 27, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, JANUARY 27, 2023
World Bank provides $467.50 million to modernise Bangabandhu Industrial City

Industry

TBS Report
17 April, 2021, 07:35 pm
Last modified: 17 April, 2021, 07:40 pm

Related News

  • World Bank can showcase Bangladesh's development as international success story: AK Momen
  • World Bank reaffirms support to Bangladesh’s upper-middle income goals
  • Strengthen reforms in finance, energy, export for long-term growth: WB MD
  • World Bank a key partner of Bangladesh's economic growth: Finance minister
  • World Bank to continue to support Bangladesh's digital journey

World Bank provides $467.50 million to modernise Bangabandhu Industrial City

The total cost of the project has been estimated at Tk4,347 crore. The World Bank loan for the project is Tk3,967.68 crore with government funding of Tk379.74 crore.

TBS Report
17 April, 2021, 07:35 pm
Last modified: 17 April, 2021, 07:40 pm
World Bank provides $467.50 million to modernise Bangabandhu Industrial City

The World Bank (WB) is providing $500 million in financial assistance for Bangladesh under the Private Investment and Digital Entrepreneurship Project (PRIDE), the lion's share of which will be provided to modernise Bangabandhu Sheikh Mujib Industrial City.

According to a press release of Bangladesh Economic Zone Authority (Beza), $467.50 million, which is 93.40% of the total assistance, will be provided for the Bangabandhu Sheikh Mujib Industrial Development Project.

An agreement in this regard was signed between the World Bank and the Bangladesh Export Zones Authority on 13 April 2021. World Bank Country Director Mercy Tembon and Beza Chairman Paban Chowdhury signed the agreement for their respective sides.

The total cost of the project has been estimated at Tk4,347 crore. The World Bank loan for the project is Tk3,967.68 crore with government funding of Tk379.74 crore.

According to the press release, the goal of the project is to encourage private investment and job creation in the economic zones of Bangabandhu Sheikh Mujib Industrial City. It will also aim to establish sustainability and environmental tolerance in the mainstream development of economic zones across the country.

To achieve the goal, 30 km of roads and connecting roads within the economic zones will be built. The construction of a 31 km drainage network has been proposed for the project. The development of about 990 acres of land to make it suitable for investment and industrial development has also been proposed, said the press release.

An investors club and an OSS centre will be set up in the project area for domestic and foreign investors. Apart from this, a skill development centre for staff, four power substations for uninterrupted power supply and a 20 km supply line, a 25 km telecommunication system with a high capacity internet connection, installation of optical fibre, 27 km of gas pipelines with 2 DRS, and a 40 km water supply line have also been proposed, it added.

Other facilities include a Central Effluent Treatment Plant with a capacity of 48 MLD and a Solid Waste Management Plant for solid waste treatment. There are also plans to set up biogas plants, waste sorting, and a material recovery facility.

Under the project, rooftop and floating solar systems will be established for the use of renewable energy in industrial mills.

Moreover, to meet the demand for water in industrial plants , a desalination plant with a capacity of 30 MLD will be set up, and a 12.14km long steam network will be installed  to meet the demand for steam.

The project includes a plan to establish an Environmental Lab & Monitoring System to examine environmental and other parameters in Bangabandhu Sheikh Mujib Industrial City. Other plans include the establishment of a Child Care & Emergency Health Care Center, an Emergency Response Center, and Beauty and Greening of Sheikh Hasina Lake and Mosque.

The project was approved at the ECNEC meeting held on February 1, 2021, under the chairmanship of Prime Minister Sheikh Hasina.

Bangabandhu Sheikh Mujib Industrial City will serve as a model for the country's industrial sector. At least, 1.5 million people will be employed in this 30,000-acre city. As one of the largest economic and industrial zones in South Asia, the city is emerging as a crossroads of domestic and foreign investment, an economic and industrial gateway to the southeastern part of the country.

Investor interest continues to grow as a result of visible infrastructure development and the most convenient geo-strategic location. Well known domestic and foreign companies or institutions have come forward for investment and industrialisation which include Berger, Asian Paints, the TK Group, Walton, Summit, Bashundhara, GPH, Healthcare Pharmaceuticals etc.

The project will be implemented from January 2021 to December 2025.

Work is underway to set up 12 industries in the industrial city and it is expected that at least seven industries will start production this year.

The press release says entrepreneurs are setting up mills and factories in a single or joint venture, for garments and knitwear, steel and iron industries, the power and energy sector, chemical products, electrical and electronics equipment, pharmaceuticals, textiles, container manufacturing, edible oil, food processing, and automotive industries.

Investment proposals worth about $22 billion have already been put forward for the industrial city, of which $1.38 billion is foreign investment.

Economy

World Bank / Bangabandhu industrial city

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Bloomberg
    India's Adani slammed by $48 bln stock rout, clouding record share sale
  • Infograph: TBS
    State banks spend 80% of their forex for govt imports in H1
  • Global central banks preaching on pay are enforcing squeeze too
    Global central banks preaching on pay are enforcing squeeze too

MOST VIEWED

  • Manufacturers feel the pinch as consumers tighten belt
    Manufacturers feel the pinch as consumers tighten belt
  • Illustration: TBS
    Commerce ministry to continue advocacy for simplification of business registration process: Minister
  • Looking ahead for SMEs
    Looking ahead for SMEs
  • Once booming steel industry now in deep stress
    Once booming steel industry now in deep stress
  • Amrita Makin Islam. TBS Sketch
    German supply chain law: Boon or bust?
  • Represenattional image. Photo: Collected
    BD Lamps to invest Tk3cr for new production line

Related News

  • World Bank can showcase Bangladesh's development as international success story: AK Momen
  • World Bank reaffirms support to Bangladesh’s upper-middle income goals
  • Strengthen reforms in finance, energy, export for long-term growth: WB MD
  • World Bank a key partner of Bangladesh's economic growth: Finance minister
  • World Bank to continue to support Bangladesh's digital journey

Features

Sketch:TBS

Why we need consumer education for consumer wellbeing

8h | Thoughts
Dr Ahsan H Mansur, Executive Director, Policy Research Institute. Illustration: TBS

Twin shocks call for stronger domestic policy response

9h | Thoughts
December-er shohor, taxi taken for airport and the Park Street bathed in lights. Photo: Jannatul Naym Pieal

Exploring Kolkata on foot, empowered by Google Maps

10h | Explorer
Island hopping in Bangladesh?

Island hopping in Bangladesh?

12h | Panorama

More Videos from TBS

Kajol’s road paintings bring change in Gafargaon

Kajol’s road paintings bring change in Gafargaon

1d | TBS Stories
Carew & Company witnessed a remarkable growth

Carew & Company witnessed a remarkable growth

1d | TBS Stories
After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

1h | TBS Entertainment
PCB recalls cricketers from BPL ahead of PSL

PCB recalls cricketers from BPL ahead of PSL

1d | TBS SPORTS

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]