French IDEC Asia has teamed up with the sponsor of Mongla Economic Zone for development of the zone in Mongla.
The PowerPac Economic Zone Limited, a sister concern of Sikder Group on Monday signed a Memorandum of Understanding (MoU) with 'IDEC Group Asia' for developing green economic zone -- PowerPac Mongla Economic Zone, said a press release.
Chairman of PowerPac Economic Zone Limited Rick Haque Sikder and Chief Executive Officer (CEO) of IDEC Group Asia Patrice Lafargue signed the MoU on behalf of the respective organizations at the Ball Room of Waldorf Astoria Shanghai in China.
Managing Director of PowerPac Economic Zone, Ron Haque Sikder, and other senior officials from both the organisations were present on the occasion.
Under the MoU, the IDEC Asia will develop and operate the Mongla Economic Zone on 205 acres of land.
On the occasion, a bilateral meeting also took place between the top management of PowerPac Economic Zone Limited and IDEC Group Asia.
At the meeting, it was discussed that a Special Economic Zone will also be developed at Central Business District Project area under Sector-19 at Purbachal in the capital and the IDEC Asia will be responsible to operate this project.
PowerPac Economic Zone (Pvt) Limited has set up the country’s first private economic zone near the Mongla Port. The area is located within one km of the Mongla Port and 20 kms of Hazrat Khan Jahan Ali Airport in Bagerhat.
Sikder Group is to develop and operate the economic zone on a 'Design, Build, Finance, Own, Operate and Transfer' (DBFOOT) basis in Bangladesh.
Around 25,000 jobs are expected to be generated through this economic zone, said the release.