a year ago

Fervent Multiboard to invest $93m in Jamalpur Economic Zone

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Fervent Multiboard Industries Limited will invest 93 million dollars in Jamalpur Economic Zone (JEZ).

The main investment areas of the company are wood & jutex particle board, melamine faced chipboard, veneered board and construction materials.

Some 1,000 jobs are expected to be created following the investment of the company.

Fervent Multiboards signed a land lease agreement with the Bangladesh Economic Zone Authority (BEZA) on Sunday for the purpose of investment, according to a BEZA statement

BEZA Executive Member (Investment Development) Md Ali Ahsan and Fervent Multiboard Chairman SM Mahbubul Alam inked the agreement on behalf of their respective sides at the BEZA headquarters in the capital.

BEZA executive chairman Shaikh Yusuf Harun, who was present as the signing ceremony, said BEZA has been able to create an investment-friendly environment in Bangladesh, and hence the demand for land under the BEZA for planned industrial construction is constantly increasing.

He mentioned that all facilities, including utilities, are being provided to the investors with a view to building a self-sufficient economic zone in Jamalpur.

As a result of the development of this region, people of remote areas will enjoy the benefits of industrialisation, he added.

Earlier, lease agreements have been signed with nine companies that will set up industries in this economic zone and letters of land allotment have been issued in favour of six more companies.

Fervent Multiboard Industries Ltd started its journey in 2021.

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