Multinationals, local firms to jointly invest $500m in Ctg

[integra]

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Multinationals, local firms to jointly invest $500m in Ctg

CHITTAGONG, July 27: Three multinational and two local companies today announced they will jointly invest US $500 million (about Tk 38 billion) in the power, energy and tourism sectors in Chittagong.

The investment will be made in phases, they said while disclosing the joint manifesto signed by them at the Chittagong Press Club today.

Chairman of the Parliamentary Standing Committee for Civil Aviation and Tourism Ministry Engineer Mosharaf Hossain MP attended the function as the chief guest. He said the government will extend all-out support to the multinational companies in augmenting their projects in Chittagong and Cox's Bazar.

The projects undertaken by the three foreign and two local companies are: Installation of an LPG refinery and refilling factory, LPG equipment manufacturing plant and a coal-based power plant in Chittagong, and tourism resort of international standard, international golf and country club and a 5-star hotel in the tourist town of Cox's Bazar.

The foreign entrepreneurs are multinational investment enterprises. Those are: Dorma Global Investment, Singapore-based industrial group ONG Gas and Chinese industrial giant Long Dee. The local investors are SG Group and LEA Group.

The joint manifesto was signed by Kolimuthu of Dorma Global, Aung Kock Seng of ONG Gas, Lim Kim Sen of Long Dee Group, Dr Syed Mahbub of SG Group and Manik Babloo of LEA Group.

Mosharaf Hossain MP said that an economic special zone will be set up on an area of 50,000 acres of land in Mirsarai for setting up industries of different sectors. Besides, the entrepreneurs have planned to set up deluxe hotels and other tourism installations on 150 acres of land in Cox's Bazar.

[bd_4_ever]

Good one, Chittagong has huge prospects. More FDIs should be encouraged there.


Cheers!!!

[bd_4_ever]

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Tourism in Chittagong, however, cannot be improved without law & order improvement IMO.

Transportation is also another vital factor.


Cheers!!!