Beza signs $13.7m investment land lease deal
He said BEZA is committed to providing fast and investment-friendly services to help investors launch production in the shortest possible time.
The Bangladesh Economic Zones Authority (BEZA) today (13 July) signed a land lease agreement with Jenson & Nicholson Packaging Limited for an investment of approximately US$13.7 million to establish a manufacturing facility at the National Special Economic Zone.
Under the agreement, the company will set up the industrial unit on 6.34 acres of land, creating employment opportunities for around 600 people, said a press release.
A subsidiary of Berger Paints, Jenson & Nicholson Packaging Limited will manufacture rigid plastic pails, industrial paints, food-grade packaging and metal packaging to support the backward integration of Berger Paints' manufacturing operations.
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During the signing ceremony at the BEZA conference room, officials said Berger Paints has already been allotted 40 acres of land in the same economic zone, where commercial production is expected to begin within the next two months.
Speaking on the occasion, BEZA Executive Member (Investment Development) Saleh Ahmed said the fresh investment by a local industrial group reflects growing investor confidence in the country's economic zones.
He said BEZA is committed to providing fast and investment-friendly services to help investors launch production in the shortest possible time.
Rupali Haque Chowdhury, Director of Jenson & Nicholson Packaging Limited and President of the Foreign Investors' Chamber of Commerce and Industry (FICCI), said the investment would strengthen the country's manufacturing sector through modern, environmentally friendly and technology-driven industrialisation.
While appreciating BEZA's initiatives, she urged the authority to expedite utility service connections and address policy-related challenges to further improve the investment climate.
The agreement was signed by Rupali Haque Chowdhury on behalf of Jenson & Nicholson Packaging Limited and Saleh Ahmed on behalf of BEZA in the presence of senior officials from both organisations, the release added.
