Construction work of MEZ in full swing

The construction work of Mirsarai Economic Zone (MEZ), also known as Bangabandhu Sheikh Mujib Industrial City, is going on in full swing amid the Covid-19 pandemic. Meanwhile, foreign and local investors have made investment proposals worth US $15 billion till Setember last for the MEZ, the first economic zone of the country which is being developed on 30,000 acres of land. A revised Development Project Proposal (DPP) from the Bangladesh Export Processing Zones Authority (BEPZA) has already been sent to the Planning Commission in this regard. According to the revised proposal, the project cost will go up to more than Tk 13.50 billion (Tk 1350.38 crore) from the original cost of over Tk 7.5 billion (Tk 750.58 crore). Currently, eleven factories are being constructed by different conglomerates and business groups at the MEZ and by 2021, twenty more companies will start factory construction. The sources said, Yabang Group is investing $1.0 billion in the allotted 100 acres of land and Bashundhara Group, one of the big conglomerates of the country, setting up an industry on 500 acres of land. Considering that the MEZ will serve as a major investment hub for the readymade garment (RMG) sector, the Bangladesh Economic Zones Authority (BEZA) is planning to add another 13,000 acres of land to the 30,000 acres in order to expand the area of the EZ. The ongoing first phase construction work was started to build 250 industrial plots initially. But the BEPZA has proposed that 539 industrial plots be readied since the authority believes such a measure will ensure an additional $2.7 billion in investments and will generate 0.4 million (4.0 lakh) jobs. So, the number of plots will be increased due to rising demands from the local as well as foreign investors, the sources said. As per the revised Development Project Proposal, the size of 539 industrial plots will be over 1.81 million (18.18 lakh) square metres.

Source: https://today.thefinancialexpress.com.bd/trade-market/construction-work-of-mez-in-full-swing-1602947061

SINGER Bangladesh will offer newly-launched HygieneShield appliance products

SINGER Bangladesh will offer newly-launched HygieneShield appliances line up to consumers of Bangladesh soon. Beko, Europe’s leading home appliance brand, has developed HygieneShield, a ground-breaking portfolio of household products, created in response to emerging consumer needs in the post-lockdown era. The new home appliances line uses UV light technology heat and steam for at-home disinfecting elimination of more than 99% bacteria and virus, including Covid-19. SINGER is the exclusive distributor of Beko appliances in Bangladesh. The seven appliances under the HygieneShield series are: Combi refrigerator with disinfection drawer, HygieneShield Washing Machine, HygieneShield Washer Dryer, Built-in Oven with Saturated Steam and Heat, HygieneShield Dishwasher, Tumble Dryer with UV Light Technology and UV Cleaning Cabinet.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/singer-bangladesh-will-offer-newly-launched-hygieneshield-appliance-products-1602946575

BRAC Bank wins four awards from VISA

BRAC Bank has received four awards for its performance in the VISA cards and payment business. The bank won the Excellence in Credit Cards Business; Excellence in POS Acquiring Business; Excellence in e-Commerce Business; and the newly introduced. Excellence in Commercial Business; awards from VISA. BRAC Bank is the first and only bank to have received four VISA awards in a ceremony. Last year, the bank won two awards. The announcement came in the VISA Leadership Conclave held digitally on Thursday. Each year, VISA rewards its partners and affiliates based on the payment volumes and success in different categories. This year, VISA partner organisations won awards based on the business performance for the period July 2019 to June 2020.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-bank-wins-four-awards-from-visa-1602946677

RHD seeks Tk 22.31b for land acquisition only

The Roads and Highways Department (RHD) wants to widen a 55-kilometre-long road, investing Tk 22.31 billion for land acquisition alone. The state-owned road developer has recently taken up the “Land acquisition for upgrading the Jessore (New Market)-Kantakhali (Magura) N-702 road-Laxmikandor (Magura)-Magura (Wapda) N-7 road including the Kantakhali-Laxmikandor connecting road project”. It has asked the RHD to recast the development project proposal (DPP) reflecting the possible losses of people and properties as well as their rehabilitation costs. According to the project proposal, the RHD would spend Tk 22.02 billion, 98.70 per cent of the total Tk 22.31 billion cost for land acquisition alone, Tk 273.1 million for utility shifting, Tk 13 million for concrete guidepost, and Tk 30 million for land survey.

Source: https://today.thefinancialexpress.com.bd/first-page/rhd-seeks-tk-2231b-for-land-acquisition-only-1602954359