An Indian private firm is set to make an initial investment of $10 million in one of the country’s economic zones to set up a factory to manufacture liquid ink.
To this end, Sakata Inx (Bangladesh) Private Limited, a subsidiary of Sakata Inx (India) Private Limited, signed the land lease agreement with Meghna Industrial Economic Zone (MIEZ).
This will lead to an initial investment of $10 million in Bangladesh by Sakata India, said the Indian High Commission in Dhaka, according to UNB.
India is also setting up three Indian Economic Zones (IEZs) in Bangladesh (in Mongla, Bheramara and Mirsarai) to facilitate greater Indian investments in the country.
Speaking on the occasion, Chairman of the Bangladesh Economic Zones Authority (BEZA) Paban Chowdhury said he expects the Mongla IEZ to be in operation by 2020.
The signing ceremony was also attended by the High Commissioner of India to Bangladesh Harsh Vardhan Shringla, Chairman of the Meghna Group of Industries Mostafa Kamal, Managing Director of Sakata India V K Seth and other senior officials of BEZA, Meghna Group and Sakata.
