BEPZA signed a land lease agreement with Messrs KB Petrochemical Limited, a Kuwait-Bangladesh joint venture company, on Tuesday (22 February) at the BEPZA complex in Dhaka to set up industries in the BEPZA economic zone, situated in the Sheikh Mujib Shilpa Nagar in Mirsarai, Chattogram.
The joint venture will set up a lubricating oil blending plant with an investment of 10.39 million dollars (Tk 86 per dollar amounts to Tk 89 crores 35 lacs and 40 thousand). This will create employment opportunities for 129 Bangladeshi citizens. The company will produce 20,000 metric tonnes of finished lubricants annually.
In the presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, NDC, PSC, BEPZA Member (Investment Development) Ali Reza Majid, and KB Petro Chemicals Limited MD Jahangir Hossain Patwary signed the agreement on behalf of their respective organisations.
The Executive Chairman of BEPZA thanked the signing company KB Petrochemicals for investing in the BEPZA Economic Zone. Referring to the government’s investment policy in product diversification, he said, ‘BEPZA always welcomes high quality and diversified companies to invest in the BEPZA economic zone.’
The Executive Chairman of BEPZA said that BEPZA is now one of the most successful companies in the country, capitalizing on its 40 years of experience, capabilities, skills, and professional excellence in serving the country’s export-oriented industries. He added that the confidence of investors has made BEPZA a recognisable brand in the international arena.
