Readymade garment factories in Bangladesh that are non-compliant will be relocated in an industrial park. The government has set up a company toward this end. The aim is to make the country’s apparel industry compliant. Small and medium entrepreneurs will get priority in allotment of plots. The company will sign a memorandum of understanding with Hong Kong’s KRD International Investment Group for establishing the park.
The industrial park will be established on 532 acres of land, of which 30 per cent will be used for infrastructural development and the rest for factories. An apparel maker who exports products worth $1.2 million and above will have to pay 40 per cent of the total plot value as down payment. And an apparel maker who exports below $1.2 million dollars will have to pay 20 per cent of the price as down payment.
The park will have facilities like power station, fire brigade, child care, police station, bank, river port, pump house, solid wastage pump, central effluent treatment plant and dumping yard.
About 1,700 applications have been received from garment makers as against 432 units to be allocated in the proposed park.