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Published on April 3, 2016
With the money, around 1,028 acres of land will be acquired for the project. However, the total project cost is yet to be estimated while the project duration still remains undecided.
The public-private partnership project was approved by the cabinet committee on economic affairs in August, 2014. It features hotels, cottages, beach villas, night clubs, a convention hall and an amusement park.
In last February, a meeting with Prime Minister Sheikh Hasina in the chair discussed the Sabrang ETZ project in details.
Civil Aviation and Tourism Minister Rashed Khan Menon recently said they would “soon conduct a feasibility study” of the project.
He expects foreign investment in the development of Sabrang ETZ. “Many foreign companies are willing to invest in Sabrang,” Menon claimed adding international tender will be called after the feasibility study. According to sources, the World Bank is likely to fund the feasibility study.
Rashed Khan Menon said construction of a marine drive road in the area was under way and a four-lane road would also be developed to reach the zone. Besides, the development work of Cox’s Bazar airport was also progressing fast, he added.
Exclusive tourism zone project is first in Bangladesh and expected to bring about a change in the country’s tourism industry which still lacks international standards.
Officials said the project, once implemented, could attract foreign tourists too.
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