WB lending $467m to Bangabandhu Industrial City
Published: 05:35 PM, 17 April 2021
The World Bank (WB) is giving a loan of $467 million to build Bangabandhu Sheikh Mujib Industrial City as a modern city. The expenditure will be on the Bangabandhu Sheikh Mujib Industrial City Development project under Bangladesh Economic Zone Authority (BEZA).
According to sources, the World Bank is lending $500 million to Bangladesh under the Private Investment and Digital Entrepreneurship (PRIDE) project. Of this – Bangabandhu Sheikh Mujib Industrial City Development Project will cost $467.50 million or 93.40 percent.
In a statement on Saturday, BEZA said Bangabandhu Sheikh Mujib Industrial City will serve as a model for the country’s industrial sector. “The project agreement was signed between the WB, signed by the organization’s country director Mercy Tembon, and BEZA, signed by the agency’s Executive Chairman Paban Chowdhury, on April 13,” the statement added.
The total cost of the project has been estimated at Tk 4,347 crore. The WB loan for the project is Tk 3,967.46 crore. The government funding for the project is Tk 379.74 crore.
BEZA says at least 1.5 million people will be employed in the 30,000-acre industrial city. As one of the largest economic and industrial zones in South Asia, the city is emerging as a crossroads for domestic and foreign investment, industrialization and an economic gateway to the southeastern part of the country.
BEZA also mentioned that new employment opportunities will be created by attracting investment in the economic zones under the industrial city. “The implementation of these projects includes the construction of a total of 30 km of roads, including roads and connecting roads within the Zone-2A and Zone-2B economic zones.”
An investor club and an OSS center will be set up for domestic and foreign investors.
Besides, a skill development center for workers, 4 power substations and 20 km supply lines for uninterrupted power supply, 25 km optical fiber for setting up telecommunication system with a high-capacity internet connection, 28 km gas pipeline with 2 DRS for gas supply to industrial plants, 40 km long water pipeline for water supply and sanitary pipeline for waste disposal, increase in the capacity of Ichakhali canal flowing through the economic zone, construction of a boundary wall of about 40 km length to protect the industrial city are included in the project.
Apart from setting up of 48 MLD capacity Central Effluent Treatment Plant for industrial waste treatment and Solid Waste Management Plant for solid waste treatment, there are also plans to set up Biogas Plant, Waste Sorting and Material Recovery Facilities.
Under this project, rooftop and floating solar will be established for the use of renewable energy in industrial mills. Besides, a desalination plant with a capacity of 30 MLD will be set up to meet the demand for water in industrial plants and a 12.14 km long steam network will be set up to meet the demand for steam.
The establishment of an Environmental Lab and Monitoring System for Environmental and Other Parameter Standard Testing of Bangabandhu Sheikh Mujib Industrial City has been included in the project.
Other infrastructures include the establishment of a Child Care and Emergency Health Center, the establishment of an Emergency Response Center, the beautification and greenery of Sheikh Hasina Sorobor and a mosque.