TechnoSity And Bangladesh Govt Sign Deal On Hi-Tech Park

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TechnoSity Ltd & Bangladesh Govt. signed a deal this Tuesday where the former party will be investing $25.8 million on the much coveted hi-tech park project of Kaliakoir, Gazipur. It must be mentioned that, TechnoSity is a joint venture between local Fiber@Home and three other Malaysian companies — IRIS Corporation, MSC Technology Centre and Alpha Technologies.

As per the agreement, TechnoSity will construct Block 3 of the five blocks of the 232-acre park and operate them for 40 years with a provision of extending the contract for another 20 years. The agreement also states that the consortium will share 12 percent of its revenue from building rent with the government, 21 percent from land rent, 5 percent from utility charges and 6 percent from other earnings. In addition to that, Fiber@Home will also have a 76 percent stake in the consortium, while the three other companies will jointly hold the rest of the stakes.

TechnoSity will invite companies to set up their factories there after being done with building the entire infrastructure on the block that spans 40 acres. Interestingly, many multinational companies have already expressed interest to invest in Block 3. The managing director of Bangladesh Hi-Tech Park Authority Ms Hosne Ara Begum and chairman of TechnoSity Ltd Mr. Moynul Haque Siddiqui,, signed the deal, while Anisul Huq, law minister, presided the signing ceremony. Md Abul Kalam Azad, principal secretary of the Prime Minister’s Office, and Norlin Othman, Malaysian high commissioner, Zunaid Ahmed Palak, State Minister of ICT Division also spoke at the event.

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