Dhaka, April 7 (V7N) - The government seeks to fast-track infrastructure development of the Chinese Economic and Industrial Zone (CEIZ) to attract investment from the world's second-largest economy.

To this end, the Bangladesh Economic Zones Authority (Beza) yesterday (6 April) sent a restructured Tk4,065 crore project to the Planning Commission for approval to establish the zone on a government-to-government basis over around 800 acres of land in Anwara, Chattogram.

According to sources, Tk2,436.84 crore will come from government funds, and Tk2,148.86 crore will be provided through Chinese loans for the project titled Supporting Infrastructure Project for Chinese Economic Zone.


Officials at Beza and the Planning Commission say that Beza plans to begin project implementation by June, pending final approval from the Executive Committee of the National Economic Council. The proposal targets project completion by 2029.

Sources said the initiative to establish the CEIZ was taken in 2014. However, due to various complications, progress on the project stalled.

It regained momentum following Chief Adviser Professor Muhammad Yunus' visit to China at the end of last month. Prior to the visit, on 25 March, a move was made to send the restructured CEIZ project to the Planning Commission through the Chief Adviser's Office.

In June 2014, China's commerce ministry and Beza signed a MoU to establish the CEIZ. A second MoU in August 2022 paved the way for joint development under the G2G model.

Chinese companies will handle investment and development, while Beza will manage municipal and supporting infrastructure, including drainage, water, electricity, natural gas, jetty, and roads.

The 800-acre site in Chattogram, acquired by Beza in 2016, is strategically located near the Karnaphuli River Tunnel, seaport, and airport.

The project's implementation cost was revised to Tk4,065 crore after excluding the administration building and water treatment plant.

The plan includes constructing a 1,235-meter jetty link road, a 25 MLD Central Effluent Treatment Plant, a 212-meter multipurpose jetty, and a 12 km boundary wall, among other key infrastructure developments.

 

END/MSS/AJ