With the aim to kickstart construction of the India Special Economic Zone (ISEZ), Bangladesh is expected to sign a deal with its neighbour India, next month.
As per media reports, the signing of the deal between the Exim Bank of India and the Bangladesh Economic Zones Authority (BEZA) could take place when Prime Ministers of the two countries meet virtually.
As per reports, the final draft of the project – the project is expected to bring in billions of dollars of investment from India – has been finalised and already shared with India.
To be set up on 1,000 acres of land, BEZA is now reportedly ready to hand over the land to developer Adani SEZ to start the development work at BSMSN or the Bangabandhu Sheikh Mujib Shilpa Nagar in Mirsarai, Chittagong.
For the project, which BEZA expects to be ready for factory set-up by June 2021, India is said to have approved US $ 115 million under its third line of credit amounting to US $ 4.5 billion.
The BEZA is now dwelling on the issue of whether to go for a profit-sharing model with developers or charge them rent for land, as per the Executive Chairman of the BEZA, Paban Chowdhury, maintained media reports, adding the ISEZ is expected to create about 3 lakh jobs directly.