S. Alam Group, countrys one of the leading business conglomerates is in the process of investing more than Tk 58,000 crore in two special industrial zones which would create 50,000 jobs.
Among them, the company has plans to invest Tk 35,000 crores in the power sector, Tk 15,000 crore in HR coil sector, Tk 7,500 crores in DRI plant sector and more than Tk 500 crore in private economic zones development.
When the operation of these two special economic industrial zones now under construction in Banshkhali of Chattogram open doors, it will also earn huge foreign exchange savings by producing import substitute products, in addition to collecting huge revenue for the government, said a press release.
S. Alam Economic Zone 1 is being built on 184 acres of land in Alokdia of Banskhali, Chattogram. Foreign investors have already shown interest in building a high-capacity combined cycle power plant with green energy in this project. Agreements have been reached with them to a large extent.
This economic zone is considered an ideal location for setting up industries and factories due to its proximity to the sea and access to waterways. It will create direct employment for 5,000 people. The land development work of this project is now underway.
In addition, Banskhali S. Alam Economic Zone 2 is under implementation at Gandamara, after initial approval from BEZA. This project is being developed over 259 acres of land and an investment of Tk 22,500 crore is being made.
Due to its proximity to the sea, Banskhali S. Alam Economic Zone 2 is especially suited for heavy industries. Foreign investors, including those from Japan and Europe, are already working to build a steel industry at the site and build the necessary infrastructure.
When this project is fully implemented, more than 40,000 jobs will be created, and a lot of foreign exchange will be saved through development activities.
In addition, in the future, 400 acres of land is being planned to be added to this project and is suitable to set up several medium and heavy industries in joint venture with Japan.
S. Alam Group has taken the initiative to establish one green steel project and one green combined cycle LNG and hydrogen power plant in these economic zones.
These investment projects have ETP, STP, adequate electricity, four lane roads and other infrastructure and industrial development facilities. As a result, economic activities of BEZA will be expanded through industrial zones.
