The World Bank is providing USD 500 million in financial assistance through the Private Investment and Digital Entrepreneurship (PRIDE) project, the lion’s share of which (US 467.50 million, 93.40%) is provided to transform Bangabandhu Sheikh Mujib Shilpanagar as a modern multimodal city. World Bank and Bangladesh Economic Zones Authority has signed a Project Agreement on April 13, 2021. Mercy Tembon, Country Director of the World Bank in Bangladesh and Mr. Paban Chowdhury, Executive Chairman signed the agreement on behalf of IDA and BEZA respectively. The total cost of the project has been estimated at Tk 4,347 crore of which World Bank loan is Tk 3,096.48 crore and GoB funding is Tk 369.64 crore.
Overall target of the Project:
Encouraging private investment and job creation at ‘Bangabandhu Sheikh Mujib Shilpanagar’ and establishing sustainability and environmental tolerance in the economic zones across the country.
The Purposes of the project are:
(A) To create conducive environment for private investment through infrastructure development at Zone-2A & 2B of ‘Bangabandhu Sheikh Mujib Shilpanagar’ and other surrounding zones;
(B) To demonstrate the benefits of sustainability and the use of environmental tolerance policies by establishing Bangabandhu Sheikh Mujib Shilpanagar as an eco-friendly green economic zone; and
(C) To create new employment opportunities by attracting investment at ‘Bangabandhu Sheikh Mujib Shilpanagar’.
The following activities will be undertaken to achieve the above specific objectives –
Under the project, a total of 30 km long roads and connecting roads will be constructed at Zone-2A and Zone-2B and around them. 31 km Drainage Network has been proposed in the project for storm water drainage and about 990 acres of land has been proposed to be developed to make it suitable for investment and industrial growth.
An Investors’ Club for the visiting investors and an OSS center will be set up under the project outline. Apart from this, skill development center, 4 power substations & 20 km distribution line for uninterrupted power supply, 25 km long optical fiber & telecommunication system for high capacity internet connection, 28 km Gas pipeline with 2 DRS for industrial gas connection, 40 km long water distribution line, Sanitary pipeline for waste disposal, alignment correction of Ichakhali canal, 40 km long boundary wall for protecting the city are all included under the project purview to create a self-reliant city.
The project also comprises of a 48 MLD capacity Central Effluent Treatment Plant for industrial waste treatment, and Solid Waste Management Plant for solid waste treatment and waste sorting and material recovery facility & moreover Biogas plant.
Rooftop and floating solar will be established to ensure the use of renewable energy in industrial plants.
Additionally, to meet the water demand of this industrial city, a 30 MLD capacity desalination plant and 12.14 km long Steam network will be set up under this project.
Environmental Lab & Monitoring System will be established to check environmental parameters & standards at Bangabandhu Sheikh Mujib Shilpanagar. Other infrastructures include Child Care & Emergency Health Care Center, Emergency Response Center, Embellishment of Sheikh Hasina Sarobar, enhancing esthetic beauty, establishing religious centres etc.
Notably, the project was approved at the ECNEC meeting, chaired by Hon’ble Prime Minister Sheikh Hasina on February 1, 2021 and on the other hand, the master plan of Bangabandhu Shilpanagar was finalized in 2019 on the basis of various directives received from HPM herself.
Bangabandhu Sheikh Mujib Shilpanagar will serve as a model for the country’s industrial revolution. At least 1.5 million people will be employed in this city of more than 30,000 acres. As one of the largest economic and industrial zones in South Asia and at the gateway to the southeastern part of the country, the city is emerging as a crossroad of domestic and foreign investment. Investors are exhibiting keen interest consequently for visible infrastructure development and the most convenient geo-strategic location. Renowned domestic and foreign companies which include Berger, Asian Paints, TK Group, Walton, Summit, Bashundhara, GPH, Healthcare Pharmaceuticals etc. have chosen location for their investment and expansion. Development work is expected to boost up soon in an area of about 2,000 acres in zones 2A & 2B, 3, 4 and 5 of this city.
The project is due to be implemented by December 2025.
Effort is underway to set up 12 industries in Bangabandhu Shilpanagar and at least 6 industries are likely to jolt production this year. Entrepreneurs in single or joint ventures are constructing industries in sectors like garments and knitwear, steel & iron, power & energy, chemical products, electrical & electronics equipment, pharmaceuticals, textiles, container manufacturing, edible oil, food processing, automotive industries etc. About USD 22 billion has already been proposed for Bangabandhu Shilpanagar, of which USD 1.38 billion is foreign endevour.
19.5 km of 23 km long marine Super dyke, 230 KVA grid station and Sheikh Hasina Sarani along with 18 culverts & 10 km long two-lane road work are in final stages.
