PowerPac, Banshundhara sign deal to set up bag manufacturing plant at Mongla EZ

PowerPac Economic Zone Private Limited, a concern of Sikder Group, and Banshundhara Industrial Complex Limited (BICL), signed a Land Lease Agreement (LLA) on Sunday for setting up a bag manufacturing plant at Mongla Economic Zone, a press statement said. In presence of Paban Chowdhury, chairman of Bangladesh Economic Zones Authority (BEZA), the agreement was signed by Sayem Sobhan Anvir, managing director of Banshundhara Group, and John Haque Sikder, group director of PowerPac Economic Zone Pvt Limited, at the Padma Hall, Pan Pacific Sonargaon, Dhaka. All senior officials of BEZA and top officials of the companies were present at the signing ceremony. BICL has taken 16 acres of land at Mongla Economic Zone for setting up a bag manufacturing plant. The plant will help increase employment as well as play a major role to improve the national economy, the statement said. PowerPac Economic Zone (Pvt) Limited, a concern of Sikder Group, the first company that was awarded with a license for 50 years to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) 205 acres land of Mongla Economic Zone, Bagerhat under Public Private Partnership (PPP) model with the support of Bangladesh Economic Zones Authority (BEZA). Mongla Economic Zone is the most lucrative economic zone in Bangladesh for its strategic location. This economic zone is situated within the one-kilometer radius of Mongla Port, which is the second biggest seaport of the country, the statement said. PowerPac Economic Zone Pvt  Ltd asked all local and foreign investors to invest at Mongla Economic Zone considering its strategic location and future business potentiality, it added.