August 2020 \ World News \ INDIA-BANGLADESH TIES
Indian economic zone in Bangladesh

The economic zone of Bangladesh dedicated to Indian ...

By Sumi Khan

The Indian government has recently given approval in principle for financing the zone for its investors on June 11. Moniruzzaman said the finalisation of some essential infrastructure facilities, including 24 km embankment, seven sluice gates, and power plants in the industrial city has made it a coveted investment destination. The project to be developed as part of Bangladesh’s flagship industrial city Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai of Chattogram has already been approved by the Executive Committee of the National Economic Council (ECNEC) .

Currently, final negotiation is taking place involving a joint venture agreement between the BEZA and an Indian zone developer, he confirmed. According to BEZA documents, a move is now underway to employ project management consultants under the project. To this effect, necessary documents were sent to the Indian Exim Bank on June 23. India has extended three lines of credit to Bangladesh amounted to $8.0 billion since 2010, according to official data. During Bangladesh Prime Minister’s visit to the India in April 2017, India extended the third credit line worth $ 4.5 billion. The latest credit line is meant to cover projects in the areas of port construction, railways, roads, airports, power and energy, telecommunications, shipping, etc.

Tags: Bangladesh