Business Research International Corporation (BRIC) will invest about $5.32 million to set up an export-oriented agro-processing plant at the Jamalpur Economic Zone after signing a land lease agreement with Bangladesh Economic Zones Authority (BEZA).
According to a press release, the agreement clears the way for BRIC to develop a new industrial unit at the Jamalpur Economic Zone, focusing on modern agro-processing and value addition using locally sourced agricultural produce.
Under the deal, a joint initiative will establish and operate a modern agro-processing facility aimed at strengthening Bangladesh’s agro-based industrial sector and expanding production for both domestic consumption and export markets.
BRIC has been operating in Bangladesh for more than three decades and is the single largest investor in Renata PLC, playing a key role in the pharmaceutical sector. The company also has investments in food and product distribution through Direct Fresh Limited, as well as in renewable energy, with the Jamalpur project marking a strategic expansion of its diversified portfolio.
The proposed plant will be built on five acres of land and designed as an environmentally friendly industrial venture, requiring comparatively low water, electricity and gas, with commercial production targeted within three years.
The facility will produce paste, pulp, puree, juice and beverage products, spices and related items, with more than 50 per cent of raw materials sourced locally. BRIC plans to export 15 per cent of total output, a move expected to enhance Bangladesh’s competitiveness in international markets while creating significant local employment.
Speaking at the signing ceremony, BEZA Executive Member for Investment Development Saleh Ahmed said the Jamalpur Economic Zone is evolving into a plug-and-play economic enclave and that a leading company is expected to begin production there soon.
He said BRIC’s investment demonstrates environmentally responsible industrial development and expressed hope that similar agro-processing projects would attract more local and foreign investors to the Jamalpur Economic Zone.
The agreement was signed on behalf of BEZA by Executive Member for Investment Development and Additional Secretary Saleh Ahmed, while Director and Vice President Mishal Karim signed for BRIC.
BEZA said the Jamalpur Economic Zone is the first government-owned economic zone under implementation in the Mymensingh division and is being developed over 436 acres. Once fully operational, it is expected to generate direct employment for around 32,000 people.
The authority added that core infrastructure, including gas connection, a 33/11 kV power substation, administrative and dormitory buildings, land development, a groundwater reservoir and boundary walls, has already been completed.
So far, lease agreements have been signed with 18 companies at the Jamalpur Economic Zone, with construction under way for six industrial units, including a skills development centre.
