The Bangladesh Economic Zones Authority (BEZA) has signed land lease agreements with two local manufacturers for $65.1 million in new investment at the National Special Economic Zone, expanding capacity in food processing and pharmaceutical raw material production and creating an estimated 6,200 jobs.
The agreements, signed on Sunday with Golden Oil Mills Ltd and Delta API Ltd, cover projects expected to strengthen domestic manufacturing and support export-oriented industrialisation.
Golden Oil Mills will invest $52.8 million on 20 acres to produce food and agro-based products, frozen foods, ice cream, specialised oils and fats, packaging materials, backward integration products and technology-driven electronics. The project is expected to generate around 6,000 jobs. The company is part of the Golden Group and owns the Savoy Ice Cream brand.
Delta API will invest $12.3 million on 12 acres to establish an active pharmaceutical ingredients (API) manufacturing plant, creating about 200 jobs. The company has already completed the lease and handover of another 30 acres in the same economic zone, where approvals for industrial development are under way.
BEZA Executive Member for Investment Promotion Saleh Ahmed said investor interest in the country’s economic zones continued to grow as the authority strengthened investment-friendly services to help companies establish factories and begin production more quickly.
Golden Oil Mills Managing Director Niaz Ahmed said the investment would expand the company’s manufacturing capacity while supporting technology-driven industrialisation, employment and the country’s food and manufacturing sectors. He described the National Special Economic Zone as an attractive manufacturing hub but urged BEZA to improve security, utility services and workers’ housing.
Delta API Managing Director Md Zakir Hossain said the investment would help reduce Bangladesh’s dependence on imported pharmaceutical raw materials. He also sought BEZA’s support for workers’ housing, including through dedicated land lease arrangements if required.
BEZA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the latest investments reflected growing confidence among domestic industrial groups in Bangladesh’s economic zones.
He said BEZA’s role extended beyond allocating land to ensuring investors could establish factories quickly, commence production and expand export-oriented industries, while acknowledging that challenges remained and that the government was committed to addressing them.
The agreements were signed by Golden Oil Mills Managing Director, Delta API Managing Director and BEZA Executive Member on behalf of their respective organisations. Senior officials from BEZA and the two companies attended the ceremony.
