DHAKA, March 24, 2024 (BSS) - BEPZA has taken over the possession of the land acquired by the district administration for setting up the Jashore Export Processing Zone (JEPZ).

Muhammad Abraul Hasan Mojumder, Deputy Commissioner (DC) of Jashore district formally handed over the possession of about 503 acres of land to BEPZA on Saturday, said a press release today.

In presence of Mohammad Faruque Alam, Member (Engineering) of BEPZA, Project Director of Jashore EPZ Md. Yousuf Pasha took over the possession of the acquired land on behalf of BEPZA.

Earlier on 19 November 2023, BEPZA handed over a cheque for Tk. 266 crore to the district administration to pay compensation in favor of the land owners.

A policy decision was taken in the 34th Governors' Board Meeting of BEPZA, led by the Honourable Prime Minister Sheikh Hasina on 12 November 2019, to establish an EPZ in Jashore District aiming to socio-economic development in the south-western region of the country.

To implement this decision, 503 acres of land in Prembagh Union of Abhaynagar Upazila of Jashore District was acquired by the district administration which was handed over through this ceremony.

Officers of Jashore EPZ Project and district administration along with local representatives were present during this time.

The Executive Committee of the National Economic Council (ECNEC), on 09 November 2023, approved the project worth Tk 1678.29 crore for setting up Jashore EPZ.

According to the project proposal, 400 industrial plots will be prepared for investors aiming to attract US$ 2 billion in investment. The fully operational EPZ is expected to create 1.5 lakh direct and 3 lakh indirect employment opportunities, contributing US$ 2.4 billion annually to the county's total export.