The Bangladesh Economic Zones Authority (BEZA) has signed land lease agreements with Golden Oil Mills Limited and Delta API Limited to establish two new manufacturing units at the National Special Economic Zone (NSEZ). The agreements were signed at an event at the BEZA conference room in Dhaka. These new investments are expected to significantly contribute to Bangladesh's industrialization and investment drive.
Golden Oil Mills Limited Investment
Golden Oil Mills Limited, a subsidiary of the Golden Group and owner of the Savoy Ice Cream brand, will invest approximately US$52.80 million on 20 acres of land. The company plans to manufacture a variety of products including food and agro-based products, frozen foods, ice cream, specialized oils and fats, packaging materials, and high-tech electronics. This project is expected to create employment opportunities for around 6,000 people.
Delta API Limited Investment
Delta API Limited will invest approximately $12.30 million to establish an Active Pharmaceutical Ingredients (API) manufacturing plant on 12 acres of land. This project is anticipated to generate employment for about 200 people. Additionally, the company has taken over an additional 30 acres within the economic zone, where the approval process for industrial development is currently underway.
BEZA's Commitment to Industrialization
Speaking at the signing ceremony, Executive Chairman of BEZA Chowdhury Ashik Mahmud Bin Harun highlighted that Bangladesh is steadily emerging as a regional hub for investment and industrialization. He noted that the new domestic investments demonstrate growing investor confidence in the National Special Economic Zone (NSEZ). BEZA is committed to providing all necessary support to ensure the timely establishment of industries, commencement of production, and development of export-oriented manufacturing.
Industry Leaders' Perspectives
Managing Director of Golden Oil Mills Limited Niaz Ahmed emphasized that the investment would strengthen Bangladesh's food processing and manufacturing sectors through technology-driven industrialization and long-term economic contributions. He called for enhanced security, reliable utility services, and worker housing facilities within the economic zone. Meanwhile, Managing Director of Delta API Limited Md. Zakir Hossain stated that the project would contribute to achieving self-sufficiency in pharmaceutical raw materials and sought BEZA's support in facilitating land for worker accommodation.
Significance and Future Outlook
These new investments are significant for Bangladesh as they not only boost the country's industrial capacity but also create substantial employment opportunities. The establishment of these manufacturing units is expected to enhance the nation's export capabilities and contribute to economic growth. As BEZA continues to attract investments, it reinforces Bangladesh's position as an attractive destination for industrial and manufacturing ventures.
