Industrial park to be set up: Light engineering, electronics, electrical industries at one place

A Cluster Industrial Park is likely to be set up in the country for the first time combined with four-type of industries- plastic, light engineering, electronics and electronical.

Small and Medium Enterprises (SME) Foundation on behalf of the government is supervising the project where International Finance Corporation (IFC), an associate organisation of World Bank, is providing financial and technical assistance.

Sources said two locations have been selected for the project in Keraniganj area and the activities of the project are expected to commence in the beginning of the next year.

Syed Rezwanul Kabir, Chairman of the SME Foundation told The New Nation that the industrial park would accelerate production as well as reduce cost due to availability of all necessary raw materials in the same area. “Now these industries are situated in different places, especially in Dolaikhal area, a place renowned for light engineering. This hampers getting raw materials and related equipment easily,” he said,

adding, “Our target is to combine the plastic, light engineering, electronics and electronical industries under one roof which is also a demand of the industrialists for a long time.”

According to the plan all out preparations would be completed by December this year, the SME Foundation Chairman hinted, saying that ownership of the industrial park would be the owners of the industrial plots, not the government. But a government institution would supervise the activities of the industrial park, he added.

He said the importance of this sector is growing day by day nationally as it is contributing around Tk 10,000 crore in the national economy.

EPB sources said light engineering instruments worth US$190 million were exported in FY2008-09, US$219.68 million in 2007-08, US$237 million in 2006-07, US$111 million in 2005-06 and US$ 85 million in 2004-05.

About 40,000 light engineering industries are operating in the country generating employment opportunities to about six lakh people, according to the light engineering association.

The organisation said these cluster industries are the mother organisation of all industries as they produce capital machineries.