BEZA Signs Land Lease Deals with Two Firms for New Industrial Investments
The Bangladesh Economic Zones Authority (BEZA) today signed land lease agreements with Golden Oil Mills Limited and Delta API Limited to establish two new manufacturing units at the National Special Economic Zone (NSEZ), reinforcing the country's industrialization and investment drive. The agreements were signed at an event at the BEZA conference room in the city, said a press release. Under the deals, Golden Oil Mills Limited, a subsidiary of the Golden Group and owner of the Savoy Ice Cream brand, will invest approximately US$52.80 million on 20 acres of land.
The company plans to manufacture food and agro-based products, frozen foods, ice cream, specialized oils and fats, packaging materials, and high-tech electronics. The project is expected to create employment opportunities for around 6,000 people. Delta API Limited will invest approximately $12.30 million to establish an Active Pharmaceutical Ingredients (API) manufacturing plant on 12 acres of land, generating employment for about 200 people.
The company has also taken over an additional 30 acres within the economic zone, where the approval process for industrial development is currently underway. Speaking at the signing ceremony, Executive Chairman of BEZA Chowdhury Ashik Mahmud Bin Harun said that Bangladesh is steadily emerging as a regional hub for investment and industrialization, adding that the new domestic investments demonstrate growing investor confidence in the National Special Economic Zone (NSEZ).
He said that BEZA's responsibility extends beyond land allocation, as the authority is committed to providing all necessary support to ensure the timely establishment of industries, commencement of production, and development of export-oriented manufacturing. Acknowledging existing challenges, he reaffirmed the government's commitment to addressing them. Managing Director of Golden Oil Mills Limited Niaz Ahmed said the investment would strengthen Bangladesh's food processing and manufacturing sectors through technology-driven industrialization and long-term economic contributions.
While appreciating BEZA's investor-friendly initiatives, he called for enhanced security, reliable utility services, and worker housing facilities within the economic zone. Managing Director of Delta API Limited Md. Zakir Hossain said the project would contribute to achieving self-sufficiency in pharmaceutical raw materials and sought BEZA's support in facilitating land for worker accommodation. The agreements were signed by BEZA Executive Member (Investment Promotion) Saleh Ahmed, Golden Oil Mills Limited Managing Director Niaz Ahmed, and Delta API Limited Managing Director Md. Zakir Hossain in the presence of senior officials from BEZA and the two companies.
