Committed to PEOPLE'S RIGHT TO KNOW
Vol. 4 Num 263 Mon. February 23, 2004  
   
Business


Bepza takes over Ctg steel mills
PM asks officials to build infrastructures quickly for new EPZ


Chittagong Steel Mills Limited was formally handed over to the Bangladesh Export Processing Zones Authority (Bepza) yesterday for developing its 74-acre area into an export processing zone at the earliest.

During the ceremony at the International Conference Center, Prime Minister Khaleda Zia directed the officials concerned to "quickly complete" necessary infrastructure facilities for the new EPZ and distribute those among the interested investors.Industries Minister Matiur Rahman Nizami, Deputy Minister for Industries Abdus Salam Pintoo, PM's political secretaries Harris Chowdhury and Mosaddek Ali, Principal Secretary Dr Kamal Uddin Siddiqui, Industries Secretary Shoeb Ahmed, Chairman of Bangladesh Steel and Engineering Corporation M Nurunnabi and BEPZA Chairman in-charge AFM Solaiman were present on the occasion.

Some 100 industrial plots will be developed in the new export-processing zone, which will create employment opportunity for nearly 12,500 workers.

According to an official estimate, the BEPZA will have a direct annual income of Tk 2.96 crore and indirect earning of more than Tk 17 crore from the venture.

The heavy industry was set up in 1966 by the then EPIDC. In 1972, the post-independence government turned it into a separate company.

The mill was declared closed in July 1999, during the rule of past Awami League government.

Meanwhile, the Board of Investment in its 15th meeting on July 17, 2002, with Prime Minister Khaleda Zia in the chair, decided that the derelict industrial site would be transformed into an export-processing zone.