Bangladesh Export Processing Zone Authority (BEPZA) has signed a land lease agreement with Kuwait-Bangladeshi company M/s K B Petrochemicals Limited to set up industry in BEPZA Economic Zone (EZ) at
BEPZA Complex here on Tuesday.
This joint venture company will establish a Lubricating Oil Blending Plant with an investment of US$ 10.39 million with creating employment opportunities for 129 Bangladeshi nationals. The industry will produce annually 20,000 tonnes finished lubricants.
In presence of the Executive Chairman of BEPZA Major General Abul Kalam Mohammad Ziaur Rahman, Member (Investment Promotion) Ali Reza Mazid and Managing Director of K B Petrochemicals Limited Jahangir Hossain Patwary signed the agreement on behalf of their respective sides, said a press release.
Executive Chairman, BEPZA thanked the agreement signing company- K B Petrochemicals to invest in BEPZA Economic Zone.
Mentioning the government investment policy for product diversification he said, "BEPZA always welcomes high end and diversified products manufacturing industries for investment in BEPZA EZ".
BEPZA Executive Chairman said that BEPZA is now one of the most successful organizations in the country considering its experience, capabilities, expertise and professional excellence achieved during the journey of 40 years in serving the country's export-oriented industries.
Investors' confidence has made BEPZA a brand in the global arena, he added.
Member (Investment Promotion) Ali Reza Mazid said, "We hope that this initiative of BEPZA Economic Zone will continue throughout the year as per the confidence of the investors and success of BEPZA."
Among others, Member (Engineering) Mohammad Faruque Alam, Member (Finance) Nafisa Banu, Executive Director (Administration) Md. Zakir Hossain Chowdhury, Executive Director (Public Relations) Nazma Binte Alamgir, Executive Director (Investment Promotion) Md. Tanvir Hossain, Executive Director (Enterprise Services) Md Khorshid Alam, Project Director of BEPZA EZ Hafizur Rahman and Executive Director (Security) Lt Col ASM Quamruzzaman, PBGM and Chairman of K B Petrochemicals Limited Mr Kannan Naser Al Naser were present during the signing ceremony.
