Beza Seeks to Cancel SBG Economic Zone Deal

Industry: Heavy Industry
Economic Tag: Govt.

The Bangladesh Economic Zones Authority (Beza) has requested the interim government’s approval to terminate its agreement with SBG Economic Zone Ltd for a project in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram. The consortium, including Sikder Group, Bashundhara Group, and GasMin Ltd, failed to develop the 500-acre site by the 2020 deadline, as required by the contract.

Despite receiving multiple warnings, the consortium made no progress on essential infrastructure, such as roads, utility lines, and an effluent treatment plant. Beza had already removed the project developer, China Harbour Engineering Company (CHEC) Ltd, for missing deadlines. Additionally, SBG Economic Zone Ltd owes Beza around Tk 85 crore under the land lease agreement. This would be Beza’s first cancellation of an economic zone agreement, a decision previously delayed due to political pressure. Attempts to reach SBG representatives for comment were unsuccessful.

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