The Executive Committee of National Economic Council (ECNEC) on Tuesday withheld approval for “Supporting Infrastructure Project for Chinese Economic Zone,” a project that has remained mired in complications for a decade.
Despite high expectations that the project would be greenlit ahead of Prime Minister Tarique Rahman’s scheduled visit to China this month, the ECNEC meeting concluded without a final decision.
According to meeting sources, the project’s various aspects were not discussed in depth; instead, the committee decided that further consultations with relevant Chinese authorities are required. The proposal may be resubmitted to ECNEC following necessary negotiations and a comprehensive review.
According to Planning Commission sources, the industrial zone is planned for approximately 800 acres of land in Belchura area of Anwara upazila, situated on the eastern bank of Karnaphuli river in Chattogram.
The site is considered strategically and commercially vital due to its proximity to Bangabandhu Tunnel.
The total estimated cost of the infrastructure project is Tk4,189 crore. Of this amount, Tk2,467 crore is expected to be provided through Chinese loan assistance, while the remaining funds are proposed to be sourced from the government exchequer.
The foundation stone for this economic zone was laid in 2016 during the visit of Chinese President Xi Jinping to Dhaka.
However, the project has faced prolonged stagnation due to various factors, including a lack of interest from the previous Awami League government, delays in Development Project Proforma (DPP) approval, changes in developers, and financing and administrative hurdles.
This latest deferral by ECNEC further pushes back the implementation of the long-awaited industrial park.
