Adani Wilmar Limited, a joint venture of India and Singapore-based two companies, has set a plan to invest $400 million or Tk 33.5 billion at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Chattogram region to establish agro-based factories, reports state news agency BSS.

In this regard, a land lease agreement was inked on Monday (Jan 21) between the Bangladesh Economic Zone Authority (BEZA) and the Adani Wilmar Limited at the BEZA headquarters in Dhaka, said a media release.

BEZA Executive Chairman Paban Chowdhury presided over the agreement signing function. BEZA Executive Member Mohammed Ayub and General Manager of the Adani Wilmar Limited Inam Ahmed signed the agreement on behalf of their respective sides.

Paban Chowdhury said consumers of the country will get benefits after implementation of the Adani and Wilmar’s proposals as they will manufacture the products of food processing industries.

He said both local and foreign investors are showing interest to invest in the Bangabandhu industrial park as BEZA is providing international standard facilities to the investors of the industrial park.

He informed that a total of three investors have already laid their foundation stones in the industrial park.

Adani Wilmar Limited will develop the land by itself at the Mirsarai Economic Zone, which is a part of Bangabandhu Sheikh Mujib Industrial City spreading up to Chattogram’s Mrisarai, Sitakundu and Feni’s Sonagazi upazilas on 30,000 acres of land.

Adani Wilmar Limited will start developing infrastructures within six months of handing over the land to it by the BEZA.

Adani Wilmar Limited will manufacture import-substitute food items in 11 industrial units on 100 acres of land and create 3,550 employments. They have a plan to go operation within three years.